Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., Aug. 7, 2026.

Stock futures were little changed in overnight trading Monday as investors weighed signs of progress toward reopening the Strait of Hormuz against lingering doubts that the U.S. and Iran can reach a broader resolution to the conflict.

Futures tied to the Dow Jones Industrial Average were down 37 points. S&P 500 futures were marginally lower, while Nasdaq 100 futures traded near the flatline.

In Asia, Hong Kong's Hang Seng index futures edged higher, compared to the index's last close of 25,937.49. Futures for Australia's benchmark S&P/ASX 200 were little changed. Japan markets are closed for a holiday.

The moves come after the S&P 500 finished Monday little changed as uncertainty over the Middle East conflict continued to hang over markets.

Iran has said it is closing in on a deal with Oman to reopen the Strait of Hormuz, but Tehran has continued to resist direct negotiations with the U.S. until several conditions are met.

Iranian Foreign Minister Abbas Araghchi said Sunday there was "no possibility of restarting negotiations" as long as the U.S. continues violating the June memorandum of understanding and does not compensate Iran for those violations, according to the semi-official Tasnim News Agency.

Oil prices jumped Monday as uncertainty over the conflict persisted. West Texas Intermediate crude futures settled 5.1% higher at $82.13 a barrel, while international benchmark Brent crude climbed 5% to $87.72.

Investors will next turn to a key batch of inflation data, with the July consumer price report due Wednesday and the producer price index out Thursday. The readings could prove particularly important after a weak jobs report complicated the Fed's outlook.

The inflation reports could put the Fed in a difficult position. Higher oil prices are renewing concerns about price pressures just as the sharp slowdown in hiring raises questions about the strength of consumer spending and the broader economy.

Stocks got a boost at the end of last week after the July employment report showed an unexpected contraction in nonfarm payrolls, raising expectations that the Fed could hold interest rates steady for longer. Fed funds futures traders now see roughly a 50% chance of a September rate hike, down from 67% a week earlier, according to CME Group's FedWatch tool.

"The silver lining of a weaker July labor report is that it likely gives policymakers some breathing room to keep interest rates steady," said Brent Schutte, CIO at Northwestern Mutual Wealth Management Company. "We've seen the Federal Reserve favor the labor side of their mandate repeatedly over the last few years, so despite continued elevated inflation levels it would not be surprising if the Fed were to proceed with caution against hiking interest rates when the last two labor market readings have been somewhat weak."

On the earnings front, healthcare products company Cardinal Health and sneaker manufacturer On Holdings are slated to report earnings Tuesday morning. Results for Cava Group, CoreWeave and Super Micro Computer will be out in the afternoon.