US stock futures stalled on Tuesday as investors weighed President Trump's hint at a fast end to the Iran war, which sent oil prices sliding and raised hopes of limited economic fallout from the conflict.

Dow Jones Industrial Average futures (YM=F) hovered above the flatline following a turbulent session that saw stocks rebound to close with gains. Contracts on the S&P 500 (ES=F) and the Nasdaq 100 (NQ=F) were also little changed, giving up earlier slight premarket gains.

Oil prices fell swiftly after Trump said the Iran conflict could end "very soon" as the US-Israel offensive has effectively cut off the country's naval and air capabilities. Trump also said the military operation is "very far" ahead of the four-to-five week timeline initially suggested for achieving its goals.

At the same time, though, Israel's leader Benjamin Netanyahu said its offensive is "not done yet" before starting a new wave of strikes on Tehran on Tuesday.

Meanwhile, Iran has voiced defiance that bodes ill for an end to Tehran's effective blockade on tanker traffic through the crucial Strait of Hormuz — a disruption that threatens "catastrophic consequences" for oil and the global economy, per top oil exporter Aramaco's CEO.

Amid the conflicting signals, oil prices fell about 8%. West Texas Intermediate (CL=F) crude retreated to about $88 a barrel, while Brent (BZ=F) crude changed hands at around $91.

Looking ahead, two key inflation readings are due this week. February’s update on of the Consumer Price Index is due Wednesday, followed by January’s Personal Consumption Expenditures index on Friday. Neither report will account for the recent spike in oil prices, which has shifted the interest-rate calculus for the Federal Reserve.

In upcoming earnings, Oracle (ORCL) is scheduled to report after the market close on Tuesday, while Adobe (ADBE) is on Thursday's docket.

Iran's effective blockade on oil shipping through the vital Strait of Hormuz is under the microscope after President Trump said the US and Israel were making significant progress in their war on Iran and could end the conflict “very soon,” curtailing an oil-price surge.

From Bloomberg:

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Strategy (MSTR) stock rose 3% before the bell on Tuesday, following a move in bitcoin (BTC-USD). The world's largest cryptocurrency jumped 4% today on news that the conflict between US-Israeli forces and Iran had eased. Strategy is one of the largest corporate holders of bitcoin.

Oracle (ORCL) stock rose 2% during premarket hours on Tuesday. The company will release its fourth quarter earnings after the bell today amid news that it has stopped plans to expand an AI data center with OpenAI (OPAI.PVT), and will also cut thousands of jobs.

Vertex Pharmaceuticals (VRTX) stock rose 4% before the bell today after announcing that one its drugs, which treats a rare kidney disease, has met its key objective in a late-stage trial.

Hewlett Packard Enterprise (HPE) beat Wall Street's second quarter revenue estimates when it reported earnings on Monday afternoon, citing the AI infrastructure boom driving demand for the company's servers.

The tech pioneer also raised its fiscal ‌2026 adjusted earnings per share forecast to $2.30-$2.50, higher than the expected $2.25-$2.45.

"Demand for our products and solutions was strong, ⁠with orders increasing double digits year over year across all segments," CEO Antonio Neri said.

Hewlett Packard Enterprise stock rose around 3% in premarket trading on Tuesday.

Reuters reports:

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Two call-outs from Saudi Aramco (2222.SR) earnings out this morning.

One is from the Jefferies research team, noting this from the top oil exporter's management: "All areas safe & operating normally, with Ras Tanura starting up following precautionary shutdown after drone interception."

And this one from CEO Amin Nasser caught my attention on the earnings call. He was asked about how quickly the company could ramp up oil shipments once the Strait of Hormuz gets back to some form of normal:

"We can ramp up in days and not weeks, for sure."

A new chart this morning from Goldman Sachs caught my attention with oil prices (CL=F, BZ=F) continuing to slide. It appears there is some oil making it through the Strait of Hormuz.

Bloomberg reports:

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Bloomberg reports:

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