S&P 500 futures slip as traders watch for Strait of Hormuz deal, inflation data: Live updates

Traders work on the floor of the New York Stock Exchange. NYSES&P 500 futures edged lower early Monday amid growing doubts that the U.S. and Iran will soon strike a deal to open the Strait of Hormuz.Futures tied to the broad index were flat, while Nasdaq-100 futures added 0.2%. Dow Jones Industrial Average futures shed 58 points, or 0.11%.In Asia, Japan's Nikkei 225 added over 0.54% while the Topix was marginally higher. The Kospi gained 0.53% and the small-cap Kosdaq advanced 1.48%. Australia's benchmark S&P/ASX 200 was 0.54% higher.Investor optimism that the U.S. and Iran might be close to coming to an agreement to allow vessels to freely transit the critical Hormuz strait dimmed over the weekend after Iran denied engaging in any direct negotiations with the U.S. around opening the waterway. WTI crude oil rose 1% to just above $79 a barrel on Sunday.Last week, Treasury Secretary Scott Bessent's comments to CNBC suggested a deal was imminent. But President Donald Trump told Axios on Sunday that the U.S. was "only semi-negotiating" with Iran and wanted the Middle Eastern country to feel economic pressure.The three major indexes are coming off their best weeks since April. The S&P 500 finished last week at an all-time closing record.Stocks got an end-of-week boost on Friday after the July nonfarm payrolls report showed an unexpected contraction, raising hopes for investors that the Federal Reserve will hold off on interest rate hikes. Fed funds futures traders now price in a roughly 44% likelihood that the central bank raises rates at its September meeting, down from a 67% reading seen a week prior, according to CME's FedWatch tool."The stock market is likely to welcome the dovish implications of the [jobs] report," said Peter Graf, investing chief at Amova Asset Management Americas. But, "investors should be wary of the future growth potential of an economy where fewer people are working."Investors will closely monitor consumer and producer price index readings due out this week for the latest insights on inflation. No major economic reports are expected on Monday.Traders will also be watching for earnings reports due out this week from consumer-facing companies such as On Holding and Cava Group, as well as technology firms including Super Micro and CoreWeave.Oil rises amid uncertainty over U.S.-Iran Strait of Hormuz dealOil rose Monday, as traders continue to assess mixed signals from the U.S. and Iran amid worries that a deal between both countries to open the Strait of Hormuz may not be anytime soon. Futures for international benchmark Brent crude for October delivery gained 1.04% to $84.42 a barrel. U.S. West Texas Intermediate futures for September advanced 0.83% to $78.83 per barrel.Iranian Foreign Minister Abbas Araghchi said that Tehran is not currently in direct talks with the U.S. to end the war with Iran and open the Strait of Hormuz, while Washington earlier asserted that a deal is near."Uncertainty remains high as we go into the sixth month of the Iran war," Westpac said in a note. "The Strait of Hormuz remains effectively closed and the entry of the Yemen Houthis into the fray is interrupting alternative Red Sea supply routes," it added."As of Aug. 9, CENTCOM has redirected 55 commercial vessels, disabled 2, and boarded 2 to ensure compliance," according to a post on X by U.S. Central Command. —Justina LeeGuotai Haitong Hong Kong shares advanced over 26% following proposal to take offshore unit private Hong-Kong listed shares of Guotai Haitong advanced over 26% on Monday, after the Chinese financial services firm proposed to take an offshore unit private. According to a filing on ​the Hong Kong stock exchange, the deal values the offshore unit at HK$28.59 billion ($3.64 billion). Guotai Haitong proposed to privatize Guotai Junan International at HK$3.0 a share, around 44% premium over the closing price. The proposal is part of Guotai Haitong's efforts to streamline its international operations following last year's mega-merger between state-backed Chinese brokerages Guotai Junan Securities and Haitong Securities.—Justina LeeRecruit Holdings shares surge over 20% after raising profit forecastShares of Recruit Holdings surged over 20%, after the Japanese human resources company raised its profit forecast. Recruit raised its operating profit forecast to 945 billion yen ($5.97 billion) from 787 billion yen for the fiscal year ending in March, when it posted its quarterly earnings after the market close on Friday. Its earnings were supported by more monetization in its HR Technology business, as well as quicker-than-expected gains from its AI-driven hiring tools. "Q1 results exceeded expectations and the larger-than-expect guidance revision proved a positive surprise," Citi said in a note late Friday. "Considering the accelerating growth rate, we see sufficient upside potential," it added. —Justina LeeMainland China and Hong Kong shares track broad gains in other Asian markets Mainland China and Hong Kong shares rose Monday, tracking broad gains among other Asian markets. Hong Kong's Hang Seng index rose 0.37%, while mainland China's CSI 300 gained 0.30%. The gains in the Hang Seng were led by healthcare and consumer cyclicals sectors, up 2.03% and 0.87%, respectively.—Justina Lee Japan's Nikkei 225 rises, tracking U.S. stocks' Friday gainsAsia-Pacific markets were set to open higher on Monday, tracking U.S. stocks' Friday gains. Japan's Nikkei 225 was poised to rise, with the Chicago futures contract at 66,300 and its Osaka counterpart last trading at 66,310, compared with the index's previous close of 65,606.71.Hong Kong Hang Seng index futures were at 25,790, compared with the index's last close of 25,668.03.In Australia, futures last traded at 9,233, while the S&P/ASX 200′s closed at 9,263.60.On Friday, the S&P rose to a record following an unexpected loss of jobs in July which signaled that the Federal Reserve could leave monetary policy on hold for now. Meanwhile, traders continue to assess mixed signals from the U.S. and Iran, following Iranian Foreign Minister Abbas Araghchi's comments that Tehran is not currently in direct talks with the U.S. to end the war with Iran and open the Strait of Hormuz, while Washington asserted that a deal is near.—Justina Lee Asia-Pacific markets open broadly higher Asia-Pacific markets traded broadly higher early Monday. Japan's Nikkei 225 added over 0.54% while the Topix was marginally higher.The Kospi gained 0.53% at open, while the small-cap Kosdaq advanced 1.48%. Australia's benchmark S&P/ASX 200 was 0.54% higher.—Justina LeeInvestors come off winning weekDespite Sunday's muted action, Wall Street is heading into the week with positive momentum.The three major indexes are coming off their biggest weekly gains since April and recorded back-to-back winning weeks. What's more, the S&P 500 finished last week at an all-time closing record.Stock Chart IconStock chart iconS&P 500, all-time— Alex HarringS&P 500 futures flat; WTI risesS&P 500 futures are little changed shortly after 6 p.m. ET on Sunday.WTI crude oil rose 1% to just above $79 a barrel amid concern among traders that the U.S. and Iran may not have a deal coming soon.— Alex Harring