U.S. stock futures mixed as Hormuz reopening doubts grow; CPI data on tap

U.S. stock futures showed a mixed pattern early Monday, as investors weighed the potential reopening of the Strait of Hormuz against upcoming U.S. inflation data. The S&P 500 Futures edged up 0.1% to 7,786.50 points, the Nasdaq 100 Futures climbed 0.3% to 29,915.25 points, while the Dow Jones Futures slipped 0.1% to 54,126.0 points.

Iran's Foreign Minister Abbas Araqchi disclosed on Sunday that an agreement with Oman to create new shipping lanes was nearing completion, but insisted Tehran would not lift the blockade without securing U.S. compensation and lifting military threats. This uncertainty dampened expectations for a swift solution to the crisis, which has hampered shipping through the crucial oil route.

Reports suggested the U.S. anticipated an Iran-Oman deal and would lift its blockade once shipping resumed without hindrances. Oil prices climbed on Monday, potentially fueling inflation concerns and complicating the Fed's policy outlook. Wall Street concluded last week on a high note, with stocks rising after revealing a smaller-than-anticipated job loss in July, easing expectations of a Fed rate hike.

The week's performance saw the S&P 500 jump 3.6%, the Nasdaq surge 5.2%, and the Dow climb 3%. Analysts will now turn their focus to July's consumer inflation figures, released on Wednesday, as well as earnings from major firms like Applied Materials, Cisco Systems, and CoreWeave. Nearly 90% of S&P 500 companies have already reported quarterly results, with 76% exceeding earnings forecasts.