US Stock Market Mixed as Strait of Hormuz Uncertainty Lingers

US stock futures were mixed on Monday as investors weighed developments surrounding the Strait of Hormuz, oil prices, and a crucial batch of inflation data due later this week. The cautious move comes after Wall Street closed at record highs on Friday.

The Dow Jones futures slipped slightly lower in early trading, while S&P 500 and Nasdaq futures edged higher. Reuters reported that at 7:08 a.m. ET, Dow E-minis were down 78 points, or 0.14%, S&P 500 E-minis were up 0.02%, and Nasdaq 100 E-minis gained 0.15%.

The moves suggest investors are taking a cautious approach after the major US indexes reached record levels at the end of last week. The S&P 500 futures rose about 0.1%, according to Reuters' global markets report, supported by robust corporate earnings and continued optimism around artificial-intelligence investment.

Investors are also watching upcoming economic data and corporate earnings for fresh signals about the strength of the US economy and the Federal Reserve's interest-rate path. The Strait of Hormuz remains a critical route for global energy shipments, with Iran saying it was close to a final agreement with Oman to establish new shipping lanes.

However, Tehran reiterated that the waterway would only be reopened after the United States meets several conditions. Any progress toward reopening the strategic route could ease concerns about energy supplies and reduce pressure on oil prices and inflation.

The US economy unexpectedly lost 23,000 jobs in July, while employment gains for the previous two months were revised sharply lower. The weaker labor-market numbers have made investors more cautious about the possibility of another rate hike.