Stock futures were rising on Monday as oil prices dropped at the start of a week that is likely to be defined by big banks' earnings and the September consumer price index inflation report.

Micron fell 2.1% and SK Hynix declined 1.5% ahead of the opening bell after rival Chinese memory chip maker CXMT said it had made progress in developing a rival product design that can store more data.

Other memory stocks were also struggling. Memory-card maker Sandisk slid 1.8%, while hard disk-drive manufacturers Seagate and Western Digital were down 1.1% and 1.4%, respectively.

IREN jumped 5.5% after The Information reported that artificial intelligence company Anthropic has a multi-year cloud computing deal with Anthropic, citing people familiar with the matter. Anthropic and IREN didn't immediately respond to requests for comment from Barron's.

Amazon ticked up 0.2%. The online retailer is discussing a deal to buy AI start-up Decart for about $7 billion, The Wall Street Journal reported, citing people familiar with the matter.