Stocks are muted at the start of another summer week.

Chip stocks are advancing, but renewed optimism around artificial intelligence isn't proving enough to lift major indexes.

After U.S. retail sales disappointed on Friday, it was China's turn today. A monthly data dump showed the world's second-largest economy weakening on several fronts.

Retailers including Target and Walmart will report earnings later this week, giving investors an opportunity to glean more on the health of U.S. consumers. Minutes from the Fed's July meeting are also due Wednesday.

Oil prices are little changed amid an apparent impasse in the Middle East, where the war has become about who blinks first under economic pressure.