(Il Sole 24 Ore Radiocor) - Milano, 11 mag - US futures were little changed as oil prices climbed higher following president Donald Trump rejection of Iran's latest peace proposal.

Wall Street racked up solid gains last week on the back of robust earnings reports, especially tech stocks. The S&P 500 added more than 2% and the tech-heavy Nasdaq 4% as both indexes recorded their sixth straight winning weeks. The Dow rose 0.2% to post its fifth winning week out of the last six.

In a social media post yesterday, Trump said Iran's new peace proposal was 'totally unacceptable', leaving the two sides at loggerheads and casting uncertainty over when the Strait of Hormuz may reopen again.

Oil prices rose with Brent crude up nearly 3% at around 104 dollars per barrel.

Investors are concerned high oil prices will trigger inflationary pressure and prompt the Federal Reserve to delay interest rate cuts. The data highlight this week will be April consumer and producer price indexes which could offer clues as to where inflation may be heading.

On the stocks front, shares in Moderna were up 8.6% in premarket trade after the biomedical company said it has been researching vaccines to protect against hantaviruses while shares in chipmakers Intel and Micron Technology were up 5.7% and 6%, respectively, as AI-related stocks continued to shine.

Futures on the Dow Jones were down 63.00 points, or 0.13%, S&P 500 futures were down 1.75 points, or 0.02%, while.

futures on the Nasdaq were up 43.50 points, or 0.15%.

(RADIOCOR) 11-05-26 13:48:44 (0346) 5 NNNN