US stock futures climbed Monday morning as investors looked ahead to a packed week of Big Tech earnings. The moves came despite fresh escalation in the US-Iran conflict over the weekend.
Dow Jones futures edged up 0.1%, S&P 500 futures added 0.2%, and Nasdaq 100 futures gained around 0.4%.
All three major indexes fell last week, pulled lower by a selloff in chip makers and other artificial intelligence-linked stocks.
Wall Street is watching closely for results from Alphabet, Intel, IBM, and Tesla, all due this week. Investors want to see whether these companies are turning their heavy AI spending into real revenue.
The AI trade has been the main driver of markets in recent months, but a series of sector rotations has left investors looking for fresh confirmation that the theme still has legs.
Deutsche Bank analyst Jim Reid noted that last week was a reminder of “big unresolved themes” that could weigh on markets, particularly during thin summer trading.
Fighting between the US and Iran escalated again over the weekend. It was the ninth straight day of US strikes. Iran retaliated by bombing US allies in the region, including Kuwait. Two US troops were killed in an Iranian attack on a base in Jordan on Friday, according to US Central Command.
A senior Iranian source says mediators have proposed a 10-day pause in strikes to explore ways to revive the interim Iran-U.S. deal.
— Wall St Engine (@wallstengine) July 20, 2026
Oil prices initially rose on the news but then reversed. Iran indicated that diplomatic exchanges with the US would continue through mediators, which markets read as leaving room for talks.
Brent crude futures were last trading around $86.46 a barrel, well below peaks seen in April and May. West Texas Intermediate futures were flat near $81.74.
Energy markets may be beginning to look beyond the Strait of Hormuz, with alternative shipping routes being explored for oil exports.
The dollar was flat against a basket of major currencies. The 10-year Treasury yield rose one basis point to 4.56%.
Bitcoin dropped 0.8% over the past 24 hours to $64,187. The cryptocurrency often tracks broader risk sentiment, and its dip mirrored some caution in markets heading into the week.
Futures for the E-Mini Nasdaq 100 were up around 1%, while E-Mini S&P 500 contracts gained about 0.55%. E-Mini Dow futures were up roughly 0.42% at the time of writing.
The focus now turns to earnings. How Alphabet, Intel, IBM, and Tesla perform this week could set the tone for markets through the rest of summer.
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