U.S. equity futures jumped on Monday as investors looked for a batch of megacap technology earnings to keep driving the Nasdaq Composite to new heights this week. A cooling geopolitical situation also aided risk sentiment. Weekend airstrikes by Israel against Iran did not target oil or nuclear facilities as was feared and oil futures were lower in early trading. Futures tied to the Dow Jones Industrial Average added 102 points, or 0.2%. S&P 500 futures gained 0.4%, and Nasdaq 100 futures advanced 0.5%. The market was split at the end of last week. On Friday, the tech-heavy Nasdaq Composite jumped to a new intraday all-time high. On the flip side, the Dow shed more than 200 points. The broad-market S&P 500 inched lower in the previous session. Both the Dow and S&P snapped a six-week winning streak, but the Nasdaq eked out its seventh positive week in a row. Wall Street is bracing for a big week in markets that will mark the busiest week of third-quarter earnings reporting season and the final week before the Nov. 5 U.S. Presidential election. Five of the Magnificent Seven companies – Alphabet, Microsoft, Meta Platforms, Amazon and Apple – are scheduled to report third-quarter earnings. “One thing we expect to see play out is these megacap tech names continuing to reinforce commitment to AI in tech spending broadly,” Yung-Yu Ma chief investment officer at BMO Wealth Management, told CNBC. “I don’t think there’s going to be any backing away from that.”“If for some reason we don’t get that – if a few of those tech companies reporting talk about say tapping on the brakes a little bit in some of these investments – the market would not take that well,” he added. “So that’s going to be somewhat impactful, for the market to actually hear that these companies are continuing their commitment to spending in this area, if not accelerating.” Traders are also watching for a slew of key economic data this week, including the September jobs report due Friday; the September personal consumption expenditures, or PCE, price index, expected Thursday; and a preliminary reading on third-quarter gross domestic product out on Wednesday. The yield on the 10-year U.S. Treasury continued its ascent on Monday, after hitting a three-month high last week. The 10-year Treasury yield rose 1 basis point to 4.24%, while the 2-year Treasury added around 1 basis point to 4.105%. Japan’s benchmark Nikkei 225 and its Topix index climbed on Monday, supported by a weak yen amid political uncertainty as the ruling LDP lost its parliamentary majority. The Nikkei rose 1.82% to close at 38,605.53, leading gains in Asia while the Topix advanced 1.51% to 2,657.78. The yen weakened 0.64% to 153.28 on Monday. South Korea’s Kospi gained 1.13% to 2,612.43, while the small cap Kosdaq was 1.8% higher, ending at 740.48 and rebounding off a six week low. Australia’s S&P/ASX 200 rose 0.12%, closing at 8,221.5. Hong Kong’s Hang Seng index reversed losses to gain 0.18% as of its final hour, while mainland China’s CSI 300 traded 0.2% higher and finished at 3,964.16, after China reported its worst industrial profit numbers since the pandemic. Oil prices lost around 6% on Monday after Iranian energy facilities were not damaged during an Israeli attack over the weekend, with Citi analysts now discounting chances of an escalation that disrupts oil supplies. Futures for global crude benchmark Brent slid 5.83% to $71.62 per barrel at 7:54 am ET, while U.S. West Texas Intermediate futures dropped 6.13% to $67.38 per barrel. Gold prices eased on Monday, weighed down by a firmer dollar and higher Treasury yields while traders await a slew of U.S. economic data for guidance on the U.S. Federal Reserve’s interest rate stance. Spot gold lost 0.6% to $2,731.79 an ounce. Bullion hit a record high of $2,758.37 last Wednesday, lifted by safe-haven demand in the face of market risks from continuing conflict in the Middle East and Ukraine. U.S. gold futures declined 0.4% to $2,744.20.