E-mini S&P futures started the week on a positive note, moving higher as tech shares staged a meaningful rebound from late last week's sell-off. The index climbed to hover near the 7595 level, positioning it just 1% below its all-time high and cementing a fresh two-week high. Despite the upward momentum, market participants are maintaining a cautious stance while waiting for further clarity on geopolitical developments in the Middle East and upcoming economic indicators. On the policy front, a single rate hike remains fully priced in for 2026, with potential for further action pushing into 2027. Interestingly, equity volatility indices remained unchanged despite the equity market gains. Traders are looking ahead to a busy economic calendar, including the ADP employment change report, trade balance data, and Wednesday's release of the June FOMC meeting minutes.