S&P 500 futures were relatively unchanged on Monday as growing artificial intelligence optimism among investors was measured against tensions in the Middle East. Futures tied to the broad market index rose 0.1%, and Nasdaq-100 futures gained 0.4%. Dow Jones Industrial Average futures slid 123 points, or 0.2%. Nasdaq-100 futures were propped up by gains in shares of Micron Technology and other chip stocks after Bloomberg News reported that Anthropic’s second-quarter revenue was more than $11.5 billion—a massive jump from a year earlier. Micron was up more than 3%. Broadcom and Nvidia were also higher. The S&P 500 notched a fresh all-time high last week following a blockbuster earnings season that’s buoyed investor sentiment. The stock market has continued to climb in the face of ongoing hostilities in the Middle East, as well as concerns around the artificial intelligence trade. Disappointing retail sales data and a relatively mild inflation print have reduced market expectations of a Federal Reserve rate hike in the coming month. “You’ve had the shift in interest rate expectations, which feeds into some of those tech names. I think that helps explain some of that big rally we’ve had recently in tech after quite a quiet July where we had all those strong earnings but really tech didn’t do very much,” Rory McPherson, chief market strategist at Wren Sterling, told CNBC’s “Squawk Box Europe” on Monday. Investors are in for a week with fewer catalysts on the calendar, though the Federal Reserve posts its latest meeting minutes Wednesday. A slew of retail earnings are also on tap, with Walmart results due out Thursday. Home Depot and Lowe’s report Tuesday and Wednesday, respectively. On the economic front, investors will be watching for the August Empire State manufacturing index, as well as the NAHB Housing Market Index for August. Treasury yields edged lower early Monday as traders await the latest FOMC minutes due later in the week. The 10-year Treasury note yield—the main benchmark for mortgages, auto loans, and credit card debt—was more than 2 basis points lower at 4.6743%. The yield on the 2-year Treasury note, which typically reacts in line with short-term Federal Reserve interest rate decisions, dropped more than 1 basis point to 4.1542%. The 30-year Treasury yield, which is typically sensitive to geopolitical events, was more than 2 basis points lower at 5.2445%. Asia-Pacific markets ended mixed Thursday. Japan’s Nikkei 225 added 0.74% to 69,220.25, while the Topix fell 0.31% at 4,184.11. Australia’s benchmark S&P/ASX 200 lost 0.46% to 9,073.2. Mainland China’s CSI 300 advanced 1.61% to 4,741.10, while Hong Kong’s Hang Seng Index was up 1.5% as of its final hour of trade. Oil prices rose on Monday on a lack of progress ‌in diplomatic efforts to resolve the Middle East conflict, though the absence of major supply outages limited gains. Brent crude futures, the international benchmark, were up 55 cents at $89.07. U.S. West Texas Intermediate ​crude futures traded 17 cents higher to $82.57 a barrel. Both contracts gained more than 5% ​last week following attacks on tankers operated by the Abu Dhabi National Oil Company ⁠in the Hormuz Strait and on a Saudi Aramco refinery. Gold prices rose ​on Monday as a ​weaker dollar and ​fading expectations of a U.S. Federal Reserve rate hike next month supported the bullion. Spot gold rose 0.6% to $4,402.49 per ounce. Prices ⁠hit ‌a more-than-two-month high last week. U.S. gold futures ⁠for December delivery edged 0.5% higher to $4,458.70. The U.S. dollar index was down 0.3%, making gold cheaper for buyers holding other currencies. Continue using AI Cursor?Keep it onTurn Off