US stock futures climbed Monday as tensions eased in the Strait of Hormuz, with a Pakistani oil tanker and two LPG carriers successfully navigating the critical waterway. The Indian government is negotiating passage for six additional vessels through the chokepoint, which had been closed for approximately two weeks due to regional conflict.

S&P 500 futures rose 1% and Nasdaq 100 contracts increased 1% by 8 a.m. New York time, while Brent crude fluctuated around $103 a barrel. The Cboe Volatility Index dropped to 24.82, signaling reduced market anxiety. Michael O'Rourke of Jonestrading noted that stable energy prices drove a relief rally as investors covered hedges.

Meanwhile, Nebius Group NV shares jumped 14% premarket after Meta Platforms announced a potential $27 billion deal over five years for AI infrastructure. Nvidia also revealed a $2 billion strategic investment in Nebius. Traders are now focused on Wednesday's Federal Reserve interest-rate decision and producer price index data, while crypto-linked stocks gained as Bitcoin outperformed during the Iran conflict.