* Futures: Dow down 0.14%, S&P 500 up 0.02%, Nasdaq up 0.15%

* US shares of Barrick Mining ( B ) fall as Q2 profit misses

estimates

* US consumer, producer inflation data awaited this week

(Updates with prices, comments)

By Avinash P and Purvi Agarwal

Aug 10 (Reuters) - S&P 500 and Nasdaq futures inched higher

on Monday as investors assessed developments in the Middle East

that could influence the reopening of the Strait of Hormuz,

kicking off the week laden with crucial inflation data and

earnings.

Iran said it was close to a final agreement with Oman

defining new shipping lanes between them through the strait but

repeated that the U.S. must meet several conditions before the

strategic waterway is reopened.

The easing of energy flows through the crucial choke point

could mitigate concerns over heightened oil prices that have

spurred inflation concerns and chances of interest rate hikes by

central banks around the world.

Against this backdrop, readings of consumer and producer

prices due later this week could be key to garnering clues on

the Federal Reserve's monetary policy path, given Fed Chair

Kevin Warsh's stance of offering muted forward guidance.

"The conflict in the Middle East continues to be a key

factor driving market sentiment, offering a counterpoint to

continued optimism about AI investment-led growth," said Marc

Ostwald, chief economist and global strategist at ADM Investor

Services.

Near-term interest rate-hike bets, however, tempered on

Friday after data showed the U.S. economy unexpectedly shed jobs

in July. Traders currently are pricing in a 44% chance of a rate

hike in September, according to the CME FedWatch tool.

Comments from Cleveland Fed President Beth Hammack are

expected later in the day.

At 7:08 a.m. ET, Dow E-minis were down 78 points, or

0.14%, S&P 500 E-minis were up 1.25 points, or 0.02%,

and Nasdaq 100 E-minis were up 44.75 points, or 0.15%.

The benchmark S&P 500 hit a record close on Friday

and the blue-chip Dow touched record highs last week.

The recent run has lifted the S&P 500's yearly gains to over

13%, with solid earnings especially from AI companies offsetting

some concerns about high spending not yielding enough evidence

of paying off.

"The rally in equities since end-July appears to confirm

that the often violent sideways churn was more a case of

clearing out some of the excessively leveraged positions than

signalling a longer-term bearish turn," Ostwald said.

J.P.Morgan raised its year-end target for the benchmark to

8,000 from 7,800, pointing to robust corporate earnings and

increasing optimism that hyperscalers' AI investments will

accelerate revenue growth.

Of the 436 companies in the S&P 500 that have reported

earnings to date for the June quarter, 85.1% have beaten

analysts' expectations, according to LSEG data. The beat-rate

stands well above the 67% seen in a typical quarter since 1994.

The earnings calendar thins out this week, with

semiconductor company Applied Materials ( AMAT ) and networking

equipment maker Cisco ( CSCO ) among the few reporting.

U.S.-listed shares of Barrick Mining ( B ) dropped

5.2% in premarket trading after missing second-quarter profit

estimates.

Elon Musk's SpaceX climbed 2.4%, building on a

22.8% jump clocked last week. Apple ( AAPL ) was down 1.3%, as

Jefferies downgraded the iPhone-maker's stock to "underperform"

from "hold".

Separately, the U.S. Senate, led by Republicans, passed a

temporary bill to fund federal agencies through December 11 on

Saturday, averting a crippling shutdown weeks before the

November midterm elections.