U.S. stock futures rise on Middle East developments

S&P 500 Futures gained 0.07% to 7,634.25 points, Nasdaq 100 Futures added 0.14% to 28,931.75 points, while Dow Jones Futures advanced 0.18% to 53,432.0 points

U.S. stock index futures rose on Monday evening as President Donald Trump insisted that talks with Iran were ongoing. Tehran’s denied such a development.

Focus was also squarely on a host of upcoming second-quarter earnings in the coming days, with SpaceX set to report on Tuesday.

S&P 500 Futures gained 0.07% to 7,634.25 points by 00:14 GMT. Nasdaq 100 Futures added 0.14% to 28,931.75 points, while Dow Jones Futures advanced 0.18% to 53,432.0 points.

Futures rose after a positive Monday session on U.S. stock market as a sharp decline in oil prices– after Washington said it had cancelled an attack on Iran– aided sentiment. Technology and artificial intelligence stocks also rebounded from steep losses clocked in the prior month.

Palantir Technologies Inc was a major outperformer in aftermarket trade, soaring almost 14% after it clocked bumper June quarter earnings.

While stock market did rally on Trump’s assertions that talks with Iran were ongoing, caution remained in play as Tehran denied that any dialogue was taking place.

Traffic through the waterway remained scant amid heightened Iran-U.S. tensions.

The S&P 500, the NASDAQ Composite and the Dow Jones Industrial Average soared between 1% and 2.3% on Monday.

Beyond the Iran war, focus this week is squarely on a host of major earnings, as well as key payrolls data for July.

SpaceX will be among the largest companies to report earnings this week, with the rocket maker set to release its first ever quarterly earnings report as a listed company on Tuesday.

Chipmaking company AMD is also set to report on Tuesday, as are Caterpillar Inc and drugmaker Merck & Company Inc.

Focus later this week will be on nonfarm payrolls data for July, which is set to provide more cues on the economy and the path of interest rates.