United States stock futures were little changed on Sunday after Wall Street's three major indexes recorded weekly losses as weakness in semiconductor stocks weighed on investor sentiment.
By 10 am AEST (12:00 am GMT), Dow futures were down 0.1%, S&P 500 futures were flat, while Nasdaq-100 futures gained 0.3%.
The major U.S. indexes all finished lower last week, with technology stocks leading the decline amid a broader pullback in artificial intelligence and semiconductor-related shares.
The Dow Jones Industrial Average fell 0.9%, the S&P 500 declined 1.6%, and the Nasdaq Composite dropped 2.9%.
Investors remained focused on developments in the Middle East after tensions between the United States and Iran escalated over the weekend, putting further pressure on a fragile ceasefire agreement.
U.S. military forces launched strikes against Iran for an eighth consecutive night on Sunday, while Tehran intensified attacks on American military bases across the region.
U.S. Central Command (CENTCOM) confirmed that a third service member had died during the recent fighting. American forces also "found unidentified remains" near the location of an Iranian attack in Jordan on July 17 that killed two personnel, with efforts underway to identify the remains, CENTCOM said.
Oil prices surged following the escalation in geopolitical tensions. U.S. West Texas Intermediate crude futures rose 3% to trade above US$85 per barrel, while international benchmark Brent crude futures climbed 3% to above $91 per barrel.
Investors are also preparing for another busy week of corporate earnings, with several major technology companies scheduled to report results.
"Magnificent Seven" members Alphabet and Tesla are due to release earnings after Wednesday's closing bell, while Intel is set to report on Thursday after its shares fell 13% last week amid a broader sell-off in semiconductor stocks.
