Hormuz Uncertainty Weighs on Markets, Apple in Focus

U.S. stock futures were mixed on Monday as uncertainty over the Strait of Hormuz weighed on markets. President Donald Trump told Axios that the U.S. is 'only semi-negotiating' with Iran, while Iranian officials denied direct negotiations were underway.

The comments sparked renewed uncertainty over the critical shipping route, which had previously fueled optimism about a potential agreement between the two countries.

Apple (AAPL) was on the retail radar after reports suggested the company is testing memory chips from China's CXMT for iPhones and Macs. Taiwan Semiconductor Manufacturing Co. (TSM) reported a 45% rise in July revenue, reinforcing sustained global demand for AI hardware.