U.S. stock futures edge higher with Iran talks, Q2 earnings in focus

U.S. stock index futures rose on Monday evening as President Donald Trump insisted that talks with Iran were ongoing despite Tehran’s denial of 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 rose 0.07% to 7,634.25 points by 20:14 ET (00:14 GMT). Nasdaq 100 Futures rose 0.14% to 28,931.75 points, while Dow Jones Futures rose 0.18% to 53,432.0 points.

Futures rose after a positive Monday session on Wall Street as a sharp drop in oil prices– after Washington said it had canceled a major attack on Iran– aided sentiment. Technology and artificial intelligence stocks also rebounded from steep losses clocked in the prior month.

Palantir Technologies Inc (NASDAQ:PLTR) was a major outperformer in aftermarket trade, surging nearly 14% after it clocked bumper June quarter earnings.

Markets parse conflicting statements on Iran talks

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

Tehran did confirm that talks with Oman were ongoing over the status of the Strait of Hormuz. But traffic through the waterway remained scant amid heightened U.S.-Iran military tensions.

Trump later on Monday threatened Iran to accept a deal, while state media reports showed Tehran largely opposing any dialogue with Washington.

Still, oil prices fell sharply after Trump over the weekend said he had canceled a major planned attack on Iran. The trend offered Wall Street some respite.

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

SpaceX earnings, payrolls data awaited this week

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

SpaceX (NASDAQ:SPCX) 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 giant AMD (NASDAQ:AMD) is also set to report on Tuesday, as are industrial giant Caterpillar Inc (NYSE:CAT) and drugmaker Merck & Company Inc (NYSE:MRK).

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