Dow E-minis gained 37 points, or 0.07%, S&P 500 E-minis rose 34 points, or 0.45%, ​and Nasdaq 100 E-minis added 307.25 points, or 1.04%

U.S. futures rose on Monday as chip stocks stabilized after ​recent weakness, while a fall in oil prices helped extend a rally that lifted the main U.S. ‌indexes the previous week.

Oil prices remained under pressure after OPEC+ agreed to raise output targets and shipping through the Strait of Hormuz continued despite a lack of fresh developments in the fractious peace talks between Tehran and Washington.

Brent crude futures dropped 0.5% to $71.76 a barrel, hovering near four-month ​lows.

The Dow closed at a record high on Thursday during a holiday-shortened week, putting it within reach of ​53,000 — a level it has never touched — with the Dow, the S&P 500 and the Nasdaq ⁠Composite gaining around 2% each.

The indexes advanced even as semiconductor stocks, among the market’s biggest drivers this year, lost momentum. ​Investors have taken comfort from recent strength in healthcare, industrials and financials, taking it as a sign that the rally may ​be broadening beyond the chip and AI trade.

Chip stocks stabilized in premarket trading on Monday, with memory-chip makers Western Digital, Seagate and Micron Technology adding 5.5%, 4.4% and 3.4%, respectively.

At 10:37 a.m. GMT, Dow E-minis gained 37 points, or 0.07%, S&P 500 E-minis rose 34 points, or 0.45%, ​and Nasdaq 100 E-minis added 307.25 points, or 1.04%.

South Korean chipmaker SK Hynix is set to launch a U.S. listing on ​Monday to raise around $28 billion, according to regulatory filings, in another test of investor appetite for AI-linked companies.

U.S. central bank policy stays in focus ⁠as the second half of the year starts, with investors reassessing the interest-rate path. Rate-hike bets eased slightly on Thursday after a cooler-than-expected jobs report.

Traders now see a 24% chance of a 25-basis-point rate hike at the central bank’s July 29 meeting, down from about 30% a week earlier, according to CME’s FedWatch tool. For September, markets are pricing in about a 44% chance ​of one quarter-point hike, compared ​with 48.3% a week ⁠ago.