U.S. stock futures inched higher on Tuesday as traders braced for the Federal Reserve’s upcoming rate decision and earnings reports from several of the nation’s most valuable tech firms. At the same time, oil prices stayed above $112 a barrel, a level sustained after reports that President Trump directed aides to ready a prolonged blockade of Iran.

The market’s cautious tone reflects lingering anxiety over the U.S.-Iran confrontation, which has kept energy traders on edge despite mixed signals from other sectors. While equities hover near recent highs, the oil market reacts to geopolitical risk premium, suggesting any escalation could pressure crude further and ripple through inflation‑sensitive commodities. The uncertainty also dampens appetite for riskier assets across global markets.

Investors will watch the Fed’s policy call for clues on interest‑rate trajectory, while the earnings season—anchored by big tech earnings—offers a parallel barometer of corporate health. With oil anchored above $112, any surprise from policymakers or a shift in the Iran stance could swing both energy and equity markets in the near term.

Given oil’s resilience above $112, energy stocks have outperformed broader indices, rewarding investors betting on sustained geopolitical tension. Meanwhile, tech giants’ results will test whether growth narratives can offset inflation worries. The twin pressures of policy and conflict are shaping market direction in real time today.