Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, USA, August 7, 2026. Jeenah Moon | ReutersStock futures were little changed in overnight trading on Monday, as investors weighed signs of progress toward reopening the Strait of Hormuz against lingering doubts that the United States and Iran can reach a broader resolution to the conflict. Futures linked to the Dow Jones Industrial Average fell 37 points. S&P 500 futures fell marginally, while Nasdaq 100 futures traded near the flat line. In Asia, Hong Kong Hang Seng Index futures rose, compared with the index’s last close of 25,937.49. Australian benchmark S&P/ASX 200 futures were little changed. Japan’s markets are closed for holidays. The moves come after the S&P 500 closed little changed on Monday as uncertainty over the Middle East conflict continued to hang over markets. Iran has said it is moving closer to a deal with Oman to reopen the Strait of Hormuz, but Tehran has continued to resist direct negotiations with the US until several conditions are met. violations, according to the semi-official Tasnim news agency. Oil prices rose on Monday as uncertainty over the conflict persisted. West Texas Intermediate crude futures rose 5.1% to $82.13 a barrel, while international benchmark Brent crude rose 5% to $87.72. The readings could prove particularly important after a weak jobs report complicated the Federal Reserve’s outlook. The inflation reports could put the Federal Reserve in a difficult position. Higher oil prices are renewing concerns about price pressures just as a sharp slowdown in hiring raises questions about the strength of consumer spending and the broader economy. Stocks got a boost late last week after the July jobs report showed an unexpected contraction in nonfarm payrolls, raising expectations that the Federal Reserve could keep interest rates steady longer. Fed funds futures traders now see about a 50% chance of a rate hike in September, up from 67% a week earlier, according to CME Group’s FedWatch tool. “The silver lining of a weaker July jobs report is that it likely gives policymakers some breathing room to keep interest rates stable,” said Brent Schutte, CIO of Northwestern Mutual Wealth Management Company. “We’ve seen the Fed repeatedly favor the labor portion of its mandate in recent years, so despite continued high inflation levels, it wouldn’t be surprising if the Fed proceeded cautiously in raising interest rates when the last two labor market readings have been somewhat weak.” On the earnings front, healthcare products company Cardinal Health and sneaker maker On Holdings are due to report earnings on Tuesday morning. Results from Cava Group, CoreWeave and Super Micro Computer will be published in the afternoon.
