US Stock Futures Mixed Amid AI Optimism and Iran Tensions
US stock futures were mixed on Monday as investors weighed optimism around artificial intelligence against renewed tensions in West Asia and assessed the Federal Reserve's policy outlook. The S&P 500 was little changed after posting its third consecutive weekly gain, while the Nasdaq Composite edged higher and the Dow Jones Industrial Average slipped.
The S&P 500 traded near the flatline shortly after the opening bell, with technology stocks providing some support to the market. Micron Technology rose more than 4% as investor sentiment around the AI sector was supported by reports of strong growth in artificial intelligence-related business. Chip stocks including Broadcom and Nvidia also moved higher.
Oil prices, meanwhile, moved higher as geopolitical tensions remained in focus. US West Texas Intermediate crude futures rose 0.5% to nearly $83 a barrel, while Brent crude, the international benchmark, gained 0.6% to around $89 a barrel. The move came after a senior Iranian official told Reuters that Iran would shift to an offensive posture if diplomacy with the US fails.