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U.S. equity futures rose on Monday following President Donald Trump's decision to call off planned strikes against Iran, which led to a drop in oil prices. The Dow Jones Industrial Average futures rallied 610 points, or nearly 1.2%, while S&P 500 and Nasdaq-100 futures also advanced. The drop in oil prices was attributed to the cancellation of the planned attack, with Brent oil losing about 6% to trade at $82.95 per barrel.

However, investors remain cautious as the conflict may still have more to resolve. The U.S. economy is expected to add 87,500 nonfarm payrolls in July, with the unemployment rate expected to increase to 4.3%. European stock markets also showed gains, with the Stoxx 600 up 0.3% and the DAX and CAC 40 both up over 1%. Asian markets saw mixed results, with South Korea's Kospi falling over 5%, Japan's Nikkei 225 down 0.94%, and Australia's S&P/ASX 200 increasing 0.47%.

Brief written by urgent.news from CNBC's own syndicated text. Machine-written — may contain errors; check the original before relying on it.