Stock futures are holding steady Monday, as the S&P 500 and Nasdaq enter the week at record highs after posting gains for six straight weeks; oil prices are rising after Iranian officials and President Trump each rejected the latest peace proposals; inflation data, a potential confirmation vote for Fed Chair nominee Kevin Warsh, and a trip for Trump to China are among the things investors will be watching this week; Intel is leading chip stocks higher again this morning; and fellow AI chipmaker Cerebras is reportedly set to lift its IPO price this week amid stronger-than-expected demand. Here's what you need to know today.

Stock futures are little changed Monday morning as investors assess developments from over the weekend in Iran, and look ahead to a busy week of economic data and earnings reports. Futures tied to S&P 500 and Dow Jones Industrial Average were down 0.1% recently, while Nasdaq futures added 0.1%. The S&P 500 and Nasdaq Composite closed at record highs on Friday and have posted gains for six consecutive weeks, while the Dow has risen in five of the last six weeks. Crude oil prices are moving higher, as there were no signs over the weekend that the Iran war could end soon (more on that below). Gold futures were down 1% recently at $4,680 an ounce, while bitcoin was trading at around $81,100, down from a weekend high of about $82,500. The yield on the 10-year Treasury note was at 4.39%, up from Friday's close of 4.36%.

The war in Iran doesn't seem any closer to ending to start this week, after President Trump and Iran rejected the latest peace proposals offered by each side over the weekend. The U.S. reportedly sent its latest offer late last week, which was rejected by Iranian officials, who said it was effectively a surrender, when they want a deal that includes reparations from the U.S. for starting the conflict, as well as control over the Strait of Hormuz, according to Iranian state media. Iran sent its response and own proposal over the weekend, which Trump on Sunday rejected on social media, without providing details about the offer or why it was "TOTALLY UNACCEPTABLE!" West Texas Intermediate futures, the U.S. crude oil benchmark, were up 2.5% recently to about $98 per barrel.

Investors will be monitoring key economic data and political developments this week, along with some notable earnings reports. After being voted through the Senate Banking Committee last month, the full Senate is expected to vote this week on the confirmation of Kevin Warsh, Trump's pick to replace Federal Reserve Chairman Jerome Powell. Trump is scheduled to travel to China to meet with Chinese President Xi Jinping later this week, after the summit was rescheduled from last month because of the Iran war. The Consumer Price Index reading for April is due out tomorrow morning, providing the latest data point on how the Iran war is affecting inflation. Among the big names reporting earnings this week are Under Armour (UA, UAA), footwear maker On Holding (ONON), Cisco (CSCO) and buy-now-pay-later firm Klarna (KLAR).

Intel (INTC) shares are extending their rally this morning, leading some of the chipmaker's rivals including Micron (MU) and Advanced Micro Devices (AMD) higher. Intel stock surged to record highs last month after a strong earnings report showed increasing demand for its hardware used to run AI models. The shares have set a number of new record highs in the weeks since amid a hot stretch for tech stocks, thanks to strong earnings from other chipmakers and reports that Intel's on the verge of a new deal to make chips for Apple (AAPL). Intel shares were up nearly 6% ahead of the opening bell, after soaring 14% on Friday. Micron and AMD were up 5% and 3%, respectively, in recent premarket trading.

The next AI stock that could potentially hit the markets is likely to get more expensive before its initial public offering. Reuters reported over the weekend that Cerebras is expected to lift its IPO price range as soon as this week. The AI chipmaker filed IPO documents last week saying it expected to offer up about 28 million shares in its IPO priced between $115 and $125 per share. Now, the offering is likely to be bumped up to as many as 30 million shares at $150 to $160 per share, as the chipmaker has seen stronger-than-expected demand, Reuters reported.

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