Stocks could head lower in early Monday trading, pulling back from the solid advance posted last Friday. Futures on key indexes suggest a slightly softer start, as S&P 500 contracts dip 0.1 percent.

Investors might take profits after recent market strength pushed the Nasdaq and S&P 500 to fresh record closes in the prior session.

A steep climb in crude oil prices could pressure Wall Street, with U.S. oil futures rising over 2 percent.

The oil rally follows President Donald Trump's dismissal of Iran's reply to a U.S. plan aimed at halting the prolonged conflict, which he labeled "totally unacceptable" on Truth Social.

Iranian state media reported that the counteroffer sought reparations for conflict-related damages and affirmation of the Islamic Republic's control over the Strait of Hormuz.

Still, U.S. markets have lately brushed aside worries over the Middle East tensions, buoyed by positive corporate earnings.

Upcoming data on consumer and producer prices will draw focus, as market participants gauge how the oil surge influences inflation trends.

Attention will also go to retail sales and industrial output figures, plus earnings updates from companies such as Under Armour (UAA) and Cisco (CSCO).

Shortly after markets open, the National Association of Realtors will publish its April existing home sales report.

Analysts anticipate a 1.8 percent rise to a seasonally adjusted annual rate of 4.05 million units, rebounding from March's 3.6 percent drop to 3.98 million.

After easing Thursday, stocks rebounded sharply Friday, with the Nasdaq leading gains to a new closing peak alongside the S&P 500.

The Nasdaq climbed 440.88 points, or 1.7 percent, to 26,247.08. The S&P 500 rose 61.82 points, or 0.8 percent, to 7,398.93, while the Dow edged up just 12.19 points, or less than 0.1 percent, to 49,609.19.

Weekly, the Nasdaq surged 4.4 percent, the S&P 500 gained 2.3 percent, and the Dow nudged ahead 0.2 percent.

Asia-Pacific markets closed mixed Monday. Japan's Nikkei 225 fell 0.5 percent, China's Shanghai Composite rose 1.1 percent, and South Korea's Kospi jumped 4.3 percent.

European shares traded mostly down. The U.K.'s FTSE 100 held steady, Germany's DAX dropped 0.5 percent, and France's CAC 40 slid 1.1 percent.

Commodities saw crude oil futures leap $2.61 to $98.03 per barrel, building on Friday's $0.61 gain to $95.42. Gold futures, after advancing $19.80 to $4,730.70 an ounce Friday, declined $33.60 to $4,697.10.

The U.S. dollar fetched 157.08 yen, up from 156.65 yen at Friday's New York close. Versus the euro, it traded at $1.1771, compared to $1.1784 previously.

The views expressed here are those of the author and not necessarily those of Nasdaq, Inc.