22.06.202611:54:20UTC+00US Futures Trade Muted

US stock futures were little changed on Monday, consolidating last week’s rebound amid renewed optimism that a potential peace deal in the Middle East could normalize energy flows from the region. Futures tied to the S&P 500, Nasdaq 100, and Dow hovered near unchanged levels, keeping the benchmarks close to their record highs.

Iran reported significant progress in recent talks with the United States, saying both sides agreed in principle to pursue a peace agreement within two months. Energy commodity prices extended their decline on expectations of improved supply, though optimism in rates markets was tempered by lingering bets on a hawkish Federal Reserve following last week’s policy meetings, which limited support for Treasuries.

In equities, chipmakers continued their powerful year-to-date rally in pre-market trading, underscoring the sector’s strength and diverging from the recent underperformance of AI hyperscalers. The latter have drawn growing scrutiny as massive capital spending on AI infrastructure has raised questions about whether future returns will justify such heavy investment.

Separately, AbbVie gained about 1% after announcing a $10.9 billion all-cash acquisition of Apogee Therapeutics.