US Stock Futures Rise as Oil Falls, Nvidia Eyes $250 Billion OpenAI Data Center Deal

U.S. stock futures traded higher Monday as easing tensions between the United States and Iran boosted investor sentiment, sending oil prices sharply lower ahead of a pivotal week featuring major corporate earnings and the Federal Reserve’s latest policy decision.

Dow Jones futures gained 0.8%, S&P 500 futures climbed 0.9%, and Nasdaq 100 futures advanced 1.4% after the White House paused further military strikes on Iran, easing concerns over disruptions to global energy supplies. The improving geopolitical outlook helped lift equities while supporting bond prices.

Investor attention is now shifting to earnings season, with roughly one-third of S&P 500 companies scheduled to report results this week. Technology giants including Microsoft, Apple, Amazon, and Meta Platforms will release quarterly earnings that could provide fresh insight into the strength of artificial intelligence spending and whether massive investments in AI infrastructure remain sustainable.

Markets are also awaiting Wednesday’s Federal Reserve meeting. While traders expect interest rates to remain unchanged, policymakers are closely monitoring inflation risks tied to Middle East tensions and continued AI-driven investment, according to CME FedWatch expectations.

Oil prices retreated as hopes for a prolonged ceasefire improved. Brent crude fell nearly 7% to around $90 per barrel after briefly surpassing $100 last week amid fears that conflict could disrupt shipping through the Strait of Hormuz and the Bab el-Mandeb Strait. Iran has indicated it will halt retaliatory strikes as long as the U.S. suspends its bombing campaign, while the Trump administration continues to pursue diplomatic negotiations.

Meanwhile, Nvidia is reportedly negotiating a roughly $250 billion financial guarantee for OpenAI’s planned 10-gigawatt data center campus in Ohio, according to The Wall Street Journal. The project, backed by SoftBank’s energy subsidiary, could exceed $500 billion in total costs, with Nvidia’s guarantee helping secure financing by easing lender concerns over OpenAI’s credit profile.

Investors are also watching AI-related capital spending closely as rising financing needs raise questions about long-term profitability. Still, confidence in the sector received a boost after Chinese memory chipmaker CXMT surged about 500% in its Shanghai trading debut following an $8.6 billion IPO, becoming one of the world’s most valuable semiconductor companies.