US stock futures were mixed on Monday morning after Iran attacked Israel, putting pressure on a fragile ceasefire in the Middle East, and investors continued to reprice rate-hike bets and assess the artificial intelligence trade.

Futures tied to the Dow Jones Industrial Average (YM=F) moved down 0.3%. Meanwhile, S&P 500 futures (ES=F) rose 0.2% as contracts on the tech-exposed Nasdaq 100 (NQ=F) jumped 0.7%.

Markets start the week on unsteady footing after the Nasdaq (^IXIC) dropped 4% on Friday and the S&P 500 (^GSPC) snapped its nine-week winning streak. A strong rotation out of high-flying semiconductor stocks and into more defensive areas of the market came on the heels of a blowout May jobs report that strengthened the case for the Federal Reserve to raise interest rates later this year.

Oil prices flared after Iran fired missiles at Israel for the first time since April, and Israel struck back despite President Trump’s calls for both sides to stop fighting. Brent futures (BZ=F) climbed over 4% to above $97 a barrel, while West Texas Intermediate futures (CL=F) topped $94 a barrel amid revived concerns that a US ceasefire with Iran could fall apart to return open conflict in the Middle East.

Investors will get a better sense of whether higher oil prices are starting to bleed into core prices on Wednesday with the release of the latest monthly Consumer Price Index. That’s followed by an update on the Federal Reserve’s preferred gauge of inflation, the Producer Price Index, on Thursday. The Fed’s focus will be squarely on inflation after a batch of jobs data last week showed the labor market remains stable.

Other key events to watch this week include Oracle (ORCL) earnings on Wednesday and the likely SpaceX (SPCX) IPO on Friday, which is expected to be the largest public offering on record.