U.S. Futures Climb as Oil Retreats and Earnings Impress

CNBC reported Tuesday that U.S. stock futures moved higher as crude prices pulled back and a fresh round of earnings beats lifted premarket mood. S&P 500 futures advanced 0.5%, Nasdaq-100 futures added 0.8%, and Dow futures climbed roughly 218 points.

Oil Drop Gives Equity Futures Room to Breathe

Falling crude prices were a key driver of the stock futures earnings bounce Tuesday morning. West Texas Intermediate slipped around 2% to just above $103 per barrel. Brent crude eased about 1% to trade above $112. Lower energy costs tend to reduce input pressures across sectors, offering equities some breathing room after a turbulent Monday session.

Pfizer and AB InBev Lead a Solid Earnings Batch

Corporate results added further fuel to the premarket rally. Pfizer shares rose approximately 2% in early trading after the drugmaker posted first-quarter revenue and profit figures that topped analyst forecasts. The company also confirmed its full-year outlook. U.S.-listed shares of Belgian brewer Anheuser-Busch InBev surged around 6% following its own upbeat quarterly update. Not every name benefited, however. Palantir Technologies slipped about 2% in premarket trading despite reporting its fastest revenue growth since its 2020 market debut and lifting full-year guidance.

Monday’s Losses Set the Stage for Tuesday’s Bounce

All three major averages fell on Monday after the United Arab Emirates reported that Iran launched drones and missiles against it. The incident deepened uncertainty around a fragile U.S.-Iran ceasefire. Oil prices surged during Monday’s session on the news, dragging stocks lower. U.S. Admiral Brad Cooper, head of Central Command, said American forces disabled six small Iranian vessels attempting to disrupt commercial shipping in the Strait of Hormuz, though Iranian state media contested the account. By Tuesday morning, Defense Secretary Pete Hegseth noted that two U.S. commercial ships and American destroyers had already transited the strait safely.

Trade Data and Michael Burry Add to the Day’s Headlines

Separately, Commerce Department figures showed the U.S. goods and services trade deficit widened slightly in March to $60.3 billion, up $2.5 billion from February but marginally below the Dow Jones consensus estimate of $60.9 billion. On an annual basis, the deficit fell $211.2 billion versus the same month a year earlier, with exports up 12% and imports down 9.1%. Meanwhile, investor Michael Burry disclosed he had exited his entire GameStop position after the video-game retailer made an unsolicited $55.5 billion bid for eBay, citing the deal’s heavy debt load as incompatible with his investment thesis.

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