The major U.S. index futures are currently pointing to a roughly flat open on Monday, with stocks likely to show a lack of direction following the strength seen during last Friday's session.
Traders may be reluctant to make significant moves amid a lack of clarity about the situation in the Middle East after U.S.-Iran peace talks stalled over the weekend.
As talks between the U.S. and Iran enter a new phase of uncertainty, media reports suggested that Iran has proposed reopening the Strait of Hormuz and ending the war while postponing nuclear negotiations to a later stage.
Earnings news may move into the spotlight in the coming days, with five of the "Magnificent Seven" companies set to report their quarterly results this week.
Traders are also likely to keep an eye on the Federal Reserve's monetary policy decision scheduled to be announced on Wednesday.
While the Fed is widely expected to leave interest rates unchanged, the central bank's accompanying statement may provide clues about the outlook for rates.
After moving mostly lower over the course of Thursday's session, stocks moved back to the upside during trading on Friday. The Nasdaq and S&P 500 more than offset Thursday's losses, reaching new record closing highs.
The tech-heavy Nasdaq led the way higher, jumping 398.09 points or 1.6 percent to 24,836.60, while the S&P 500 advanced 56.68 points or 0.8 percent to 7,165.08.
The narrower Dow, on the other hand, bucked the uptrend and dipped 79.61 points or 0.2 percent to 49,230.71 amid steep losses by Merck (MRK) and Verizon (VZ).
For the week, the Nasdaq shot up by 1.5 percent and the S&P 500 climbed by 0.6 percent, but the Dow fell by 0.4 percent.
The rebound by the broader markets came amid a spike by shares of Intel (INTC), with the semiconductor giant soaring by more than 23 percent to a record closing high.
Intel skyrocketed the chipmaker reported much better than expected first quarter earnings and forecast second quarter revenues above analyst estimates.
Consumer products giant Procter & Gamble (PG) also showed a significant move to the upside after reporting fiscal third quarter results that exceeded expectations.
Buying interest was also generated in reaction to a pullback by the price of crude oil, which has soared over the past few sessions.
U.S. crude oil futures have slumped by more than 1 percent after a report from Reuters said Iranian Foreign Minister Abbas Araghchi will arrive in Pakistan tonight for peace talks with the U.S.
Araghchi himself mentioned through X that his trip is focused on bilateral matters and regional developments though he did not give much detail.
According to CNN, U.S. Special Envoy Steve Witkoff and Trump's son-in-law Jared Kushner will likely represent the U.S. though Vice President JD Vance will step in if needed.
President Donald Trump's announcement of a three-week extension of the ceasefire between Israel and Lebanon has also weighed on crude oil prices.
Semiconductor stocks have moved sharply higher amid the spike by Intel, with the Philadelphia Semiconductor Index surging by 4.3 percent to a new record closing high.
Considerable strength was also visible among gold stocks amid an increase by the price of the precious metal, driving the NYSE Arca Gold Bugs Index up by 2.3 percent.
Software stocks also showed a strong move back to the upside following Thursday's slump, resulting in a 2.1 percent jump by the Dow Jones U.S. Software Index.
Oil service stocks and computer hardware stocks also saw notable strength, while telecom, pharmaceutical and banking stocks showed significant moves to the downside.
Commodity, Currency Markets
Crude oil futures are jumping $1.18 to $95.58 a barrel after slumping $1.45 to $94.40 a barrel last Friday. Meanwhile, after rising $16.90 to $4,740.90 an ounce in the previous session, gold futures are falling $19.30 to $4,721.60 an ounce.
On the currency front, the U.S. dollar is trading at 159.17 yen versus the 159.37 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.1746 compared to last Friday's $1.1720.
Asia
Asian stocks ended mixed on Monday as upbeat Chinese data and investor enthusiasm around artificial intelligence offset concerns over stalled U.S.-Iran negotiations and Hormuz risks.
Regional losses, if any, were limited after reports emerged that Iran has made a proposal to the United States regarding the reopening of the Strait of Hormuz, a key oil shipping chokepoint.
The U.S. dollar index wobbled in Asian trade, while gold was a tad higher at $4,713 an ounce ahead of a busy week for central bank meetings, with Jerome Powell holding his last press conference as Federal Reserve Chair on Wednesday.
Brent crude futures climbed nearly 3 percent to above $108 a barrel, extending last week's rally after U.S. President Trump instructed negotiators to suspend discussions, and Iran said it would not engage in "imposed negotiations under threats or blockade."
China's Shanghai Composite Index edged up by 0.2 percent to 4,086.34 after data showed profits at China's industrial firms grew at their quickest pace in half a year last month.
Hong Kong's Hang Seng Index ended down 0.2 percent at 25,925.65 after a choppy session as investors braced for upcoming Trump-Xi talks in mid-May.
Japanese markets surged to a record high, led by gains in semiconductor and artificial intelligence-related stocks after Intel beat its earnings estimate.
The Nikkei 225 Index jumped 1.4 percent to 60,537.36, closing above 60,000 for the first time ever. The broader Topix Index settled half a percent higher at 3,735.28.
Factory automation provider Keyence and industrial robot maker Fanuc both soared around 16 percent after posting better-than-expected earnings.
Seoul stocks scaled a new peak, led by chip-related and power equipment stocks.The Kospi closed up 2.2 percent at 6,615.03 on increased optimism over corporate earnings, following recent strong earnings from Samsung Electronics and SK Hynix.
Australian markets ended slightly lower, with utilities and energy stocks pacing the decliners. The benchmark S&P/ASX 200 slipped 0.2 percent to 8,766.40, extending losses for a fifth consecutive session. The broader All Ordinaries Index closed 0.2 percent lower at 8,990.80.
Origin Energy shares plummeted 5 percent after the company posted lower LNG production and revenue in the March quarter and downgraded earning guidance for its renewable-energy startup Octopus Energy.
Europe
European stocks have moved broadly higher on Monday after Wall Street's main indexes ended last week with new highs.
As talks between the United States and Iran enter a new phase of uncertainty, media reports suggested that Iran has proposed reopening the Strait of Hormuz and ending the war while postponing nuclear negotiations to a later stage.
Investors also looked ahead to interest rate decisions by top central banks, including the U.S. Federal Reserve, the European Central Bank, the Bank of Japan and the Bank of England.
In economic news, German consumer sentiment is set to deteriorate sharply in May as income expectations collapsed due to rising inflation amid the war in Iran, the latest results of the NIM Consumer Climate powered by GfK showed.
The forward-looking consumer confidence index fell to -33.3 in May from -28.1 in April. This was the lowest score since February 2023.
The German DAX Index is up by 0.8 percent and the French CAC 40 Index is up by 0.4 percent, although the U.K.'s FTSE 100 Index is just below the unchanged.
Santhera Pharma shares have risen. The Swiss specialty pharma company said it has received positive CHMP opinion to expand the use of AGAMREE.
AstraZeneca has also moved to the upside in London. The company said its Saphnelo has received FDA approval as a once-weekly autoinjector for adults with systemic lupus erythematosus.
German wind turbine manufacturer Nordex has also soared after surpassing analysts' expectations in the first quarter.
U.S. Economic News
The Treasury Department is scheduled to announce the results of this month's auction of $69 billion worth of two-year notes at 11:30 am ET.
At 1 pm ET, the Treasury Department is due to announce the results of this month's auction of $70 billion worth of five-year notes.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.