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US Futures Trade Muted

US stock futures were flat on Monday, holding the rebound from the last week on fresh optimism that peace in the Middle East would re-establish energy supply from the region. Contracts for the S&P 500, Nasdaq 100, and Dow were flat in the session to remain near their all-time highs. Iran stated there was major progress in the recent discussions with the US as both sides agreed to reach a peace deal within two months. Prices for energy commodities fell further on hopes of restored supply, although lingering expectations of a hawkish Fed following last week’s meetings prevented support for Treasuries. Chip producers extended their historic rally from this year pre-market, contrasting with the recent lag for AI hyperscalers as their soaring levels of AI infrastructure investment sparked lingering skepticism on whether returns will be able to match outlays. Meanwhile, AbbVie added 1% after agreeing to buy Apogee Therapeutics in a $10.9 billion cash deal.

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