U.S. stock index futures edged higher on Monday as investors weighed the S&P 500's record high and uncertainty surrounding a resolution to the U.S.-Iran conflict. S&P 500 futures rose 0.12%, and Nasdaq 100 futures gained 0.38%.

This follows a weaker-than-expected July non-farm payrolls report, which showed an unexpected contraction in employment, pushing stocks higher last Friday and rekindling expectations that the Federal Reserve might pause interest rate hikes. The market now sees about a 44% chance of a rate hike in September, significantly down from 67% a week ago.

Meanwhile, Iran's foreign ministry stated on Sunday that negotiations could not resume as Washington continues to violate the June memorandum of understanding and has not compensated for its breaches. Tehran also laid out conditions for resuming passage through the Strait of Hormuz, including a full U.S. troop withdrawal, the lifting of all sanctions, and war reparations. As a result, WTI crude oil prices rose over 1%, and Brent crude futures traded at approximately $84 per barrel.