Stock futures were little changed on Monday morning as traders start a holiday-shortened week. Futures tied to the Dow Jones Industrial Average dipped 95 points, or 0.25%. S&P 500 futures hovered near the flatline while Nasdaq 100 futures added 0.1%. The major averages were mixed last week, with the blue-chip Dow posting its third losing week in four, while the S&P and Nasdaq rallied to record highs and notched their seventh up week in the last eight. This week, investors will assess if that rally can continue, with cracks emerging in the market outlook. “There’s really these two themes … investors are trying to play this year,” NB Private’s Shannon Saccocia told CNBC’s “Closing Bell” on Friday. “One has been the secular AI theme and then one has been this idea of manufacturing, reshoring and, frankly, continued strong economic growth.” “We are seeing a little bit of weaker economic data and maybe you’re getting a breather or a sigh that perhaps this … reacceleration from a manufacturing and industrial perspective is slower to move than what we’re seeing from an AI standpoint,” she added. This week will be a holiday-shortened week, with markets closed Wednesday for the Juneteenth holiday. Investors are monitoring May retail sales data, due out on Tuesday, as well as home sales and housing starts data later in the week. Lennar, Kroger, Darden Restaurants and CarMax will report quarterly earnings. U.S. Treasury bond yields ticked higher Monday, following comments by Minneapolis Federal Reserve President Neel Kashkari indicating the central bank may not cut rates until December. The 10-year Treasury yield was trading 2 basis points higher at 4.236% at 6:17 a.m. ET. The 2-year Treasury note yield was also up around 2 basis points at 4.708%. Asia-Pacific markets were mostly lower on Monday as the region assesses key economic data out from China. Hong Kong Hang Seng index reversed losses and was up marginally after the MLF and data announcement, while the CSI 300 on mainland China closed 0.15% lower at 3,536.2. Japan’s Nikkei 225 tumbled 1.83%, dragged by energy and real estate stocks. The index closed at 38,102.44, its lowest level in June, while the Topix also saw a similar loss of 1.7% and ended at 2,700.01. South Korea’s Kospi fell 0.52% to 2,744.1, and the small-cap Kospi also was down 0.37%, reversing earlier gains and ending at 858.96. Australia’s S&P/ASX 200 slipped 0.31% and closed at 7,700.3, ahead of the Reserve Bank of Australia’s rate decision on Tuesday. Crude oil futures rose Monday following their best week since April as traders sifted through mixed economic data out of China. U.S. crude oil and global benchmark Brent closed out last week nearly 4% higher, as analysts expect the market to tighten in the third quarter as summer fuel demand draws down inventories. Oil stockpiles should fall by 850,000 barrels per day in the third quarter, said Helima Croft, head of global commodity strategy at RBC Capital Markets. “It’s more of a sense that this market is likely to get tighter as we go deeper in summer,” Croft told CNBC’s “Closing Bell Overtime” on Friday. West Texas Intermediate July contract: $78.83 per barrel, up 38 cents, or 0.48%. Year to date, U.S. oil has gained 10%. Brent August contract: $83.02 per barrel, up 38 cents, or 0.46%. Year to date, the global benchmark is ahead 7.7%. Gold prices fell on Monday as the U.S. dollar held firm, while investors looked forward to economic data and comments from Federal Reserve officials for clarity on the rate cut timeline. Spot gold was down 0.5% at $2,321.49 per ounce after rising 1% on Friday. U.S. gold futures dipped 0.6% to $2,334.40.