US equity futures fell early Tuesday, following gains in the previous session as moderating oil prices provided brief support for investor sentiment. Market participants remain attentive to ongoing fluctuations in energy markets and developments in the Middle East, both of which continue to drive uncertainty.
At 4:45 p.m. (Bangkok Time), futures for the S&P 500 were down 0.16%, while Nasdaq 100 futures lost 0.22%. Contracts linked to the Dow Jones Industrial Average retreated by 0.07%.
During Monday’s trading, major US indices advanced after crude oil prices pulled back from recent highs. The S&P 500 posted a 1% increase, recovering after closing the prior week at its lowest level in 2026 in response to heightened tensions related to the U.S.-Israeli conflict with Iran.
All 11 industry groups within the S&P 500 closed the session positive, with technology leading sector performance. Nvidia shares gained approximately 1.7% after CEO Jensen Huang outlined expectations for $1 trillion in orders for the company’s Blackwell and Vera Rubin platforms through 2027 at its annual GTC conference.
Energy markets remain volatile as traders react to uncertainty stemming from conflict in the Middle East. On Tuesday, Brent crude prices rose 2.79% to $103.01 per barrel, while West Texas Intermediate crude climbed 3.28% to $95.49.
The recent rise in oil prices began as a response to U.S. and Israeli military actions against Iran, with concerns focused on possible disruptions to oil shipments through the Strait of Hormuz. U.S. Treasury Secretary Scott Bessent stated that Iranian oil tankers are currently permitted to transit the strait, but President Donald Trump indicated that plans for a coalition to protect shipping routes are still under discussion.
While some investors remain optimistic due to stable economic performance, moderate inflation, and resilient corporate earnings, Bartlett Wealth Management president Holly Mazzocca noted that risk factors challenging the growth outlook are increasing.
Attention is now turning to the Federal Reserve’s policy announcement scheduled for Wednesday, marking its second rate decision of the year. With inflation showing renewed strength, expectations for imminent rate cuts have diminished. Data from CME FedWatch show a 99.1% likelihood that rates will be held steady at this meeting.
