S&P 500 futures were little changed on Monday as Wall Street assessed the latest developments in the Iran war negotiations and awaited the release of inflation data closely watched by the Federal Reserve. Futures tied to the broad market index traded around the flatline, while Nasdaq-100 futures gained 0.4%. Dow Jones Industrial Average futures added 48 points, or 0.1%. Micron Technology was one of the early outperformers, rising more than 5%. The move comes ahead of the chipmaker’s quarterly report, due Wednesday after the bell. SpaceX, however, fell nearly 5%, putting it on pace for its third straight daily decline. The three leading U.S. indexes staged a comeback Thursday after a sell-off on Wednesday, with the declines fueled by investor uncertainty about the trajectory of monetary policy. Thursday’s comeback – led by a rise in chip stocks – helped the indexes finish the trading week higher. The S&P 500 gained nearly 1% in the period, seeing its 11th winning week in 12. The Dow also rose close to 1% on the week, while the Nasdaq Composite advanced more than 2%. The U.S. stock market was closed on Friday for the Juneteenth holiday. A key test for the market this week will be the release on Thursday of May’s reading on the personal consumption expenditures price index, the Fed’s preferred inflation gauge. Even excluding volatile food and energy prices, core PCE is expected to increase from April, according to economists polled by FactSet. Following last week’s hawkish Fed meeting, expectations of an interest rate increase were pulled forward to as soon as October. Investors are now laser-focused on any inflation reading that could signal the U.S. central bank may soon begin hiking rates. While Fundstrat Global Advisors’ Tom Lee believes a number of catalysts could impact the market down the line—such as the implementation of task forces at the Federal Reserve and supply chain impacts from the closure of the Strait of Hormuz—the environment remains positive. “We still believe later this year there is going to be an abrupt change of market conditions, one that feels very much like a bear market, but we don’t want to stand and call a top,” the firm’s head of research said on CNBC’s “Closing Bell” on Thursday. “I think conditions are still favorable for stocks.” U.S. Treasury yields climbed on Monday, pushing the 2-year yield to its highest since early last year, as investors looked ahead to key inflation data due to be released Thursday and weighed the latest developments in the U.S.-Iran war negotiations. The 2-year Treasury note yield, which closely tracks short-term Federal Reserve interest rate policy, was more than 4 basis points higher at 4.221%. The yield on the 10-year U.S. Treasury note—the key benchmark used to price mortgages, auto loans, and credit card debt—rose more than 4 basis points to 4.495%. The longer-dated 30-year Treasury bond yield rose more than 3 basis points to 4.934%. Asia markets closed mixed, with Japan’s Nikkei 225 jumping to a fresh record, rising 1.55% to end the trading session at 72,353.96, while South Korea’s Kospi gained 0.69% to 9,114.55. The Hong Kong Hang Seng Index slipped 0.63% in the final hour of trade, while the mainland’s CSI 300 was up 2.39% at 5,059.66. Australia’s benchmark S&P/ASX 200 was 0.14% lower at 8,816.10. Oil prices fell Monday after Vice President JD Vance said the U.S. and Iran had made progress during peace talks in Switzerland. Brent crude futures, the international benchmark, fell 2.4% to $78.64 per barrel by 9:14 a.m. ET. West Texas Intermediate futures were down 1.44% to $75.50 per barrel. Gold rebounded on Monday, ​set to end a three-session losing streak, supported by a drop in Brent crude oil prices on positive progress in U.S.-Iran talks, even as the Federal Reserve’s hawkish stance kept investors ⁠on ‌edge. Spot gold was up 1.2% at $4,208.58 per ounce, ⁠as of 1003 GMT, after falling to its lowest level since June 11 on Friday. U.S. gold futures for August delivery fell 0.4% to $4,226.90. “Gold may be benefiting from flows of hot money moving out of oil and ‌back into gold,” independent analyst Ross Norman said.