S&P 500, Nasdaq, and Dow futures stalled on Monday as investors reacted to a report that Iran has put forward a proposal to reopen the Strait of Hormuz, ahead of a crucial week for markets filled with Big Tech earnings and key central bank policy signals.

Contracts on the S&P 500 (ES=F) and the Nasdaq (NQ=F) were broadly flat after ending last week at record highs, News.Az reports, citing foreign media.

Meanwhile, Dow Jones Industrial Average futures (YM=F) fell by around 0.2%.

Iran has reportedly made a new proposal to lift its blockade of the strategic Hormuz waterway and bring an end to the conflict, while postponing nuclear negotiations to a later stage, according to Axios.

Concerns over inflation have weighed on markets, as disruptions to global oil flows and other supply chains raise the risk of higher prices across multiple sectors. Attempts to restart peace talks over the weekend reportedly stalled, with both sides stepping back.

Crude oil prices rose by more than 2%, with Brent crude futures (BZ=F) climbing back above $100 a barrel, while West Texas Intermediate (CL=F) rose above $96 at last check.

Markets are now entering a key week on the calendar, with quarterly earnings from five of the “Magnificent Seven” megacap tech companies expected to be released. Their results are seen as a major test of the stock market’s resilience amid geopolitical tensions.

This week also includes a Federal Reserve policy decision. The meeting is expected to be one of the final ones chaired by Jerome Powell before leadership transitions to Kevin Warsh.

News.Az 

By Nijat Babayev