Stock futures point to opening gains for U.S. indexes and Asian chip stocks rallied today, as investors gear up for earnings from some of America's biggest tech companies. The S&P 500 and Nasdaq Composite have flatlined in recent weeks.

Hostilities in the Middle East, higher oil prices and powerful new Chinese artificial-intelligence models have dampened the enthusiasm that previously powered months of gains. Nasdaq-100 futures are up more than 1% this morning, suggesting tech stocks could rise at the bell, although yesterday's early gains for chip stocks petered out through the session.

General Motors, Danaher and Charles Schwab are due to report quarterly results before the bell. Wednesday will bring earnings from Alphabet, Tesla and IBM.

Oil prices have slipped back from their highest levels in more than a month despite more fighting in the Middle East overnight. U.S. Central Command said it struck Iranian command centers, air-defense systems and launch sites.