S&P futures climbed Tuesday, as investors sift through the latest developments in the Iran war to concentrate on corporate earnings updates. Futures associated with the Dow Jones Industrial Average increased by 166 points, representing a 0.3% rise, while S&P 500 futures and Nasdaq 100 futures experienced gains of 0.6% and 1.4%, respectively. Shares of 3M surged over 7% following the industrial giant’s announcement of earnings that surpassed expectations for the second quarter. General Motors also reported a beat on the bottom line, resulting in a 2% increase in the stock. The reporting period has commenced with robust momentum. Of the approximately 54 S&P 500 companies that have reported, 87% have exceeded bottom-line estimates, according to the source.

Prominent companies scheduled to announce their earnings later this week include Alphabet, IBM, and Tesla. As companies release their most recent earnings results this week, traders will be seeking insights into expenditures related to artificial intelligence. They will also be attentive during earnings calls for affirmation that executives are not adopting a more cautious stance regarding the latter half of the year. Semiconductors contributed positively to the broader market in early trading. The VanEck Semiconductor ETF gained more than 3%. Marvell Technology and Micron Technology each experienced a 6% increase prior to the market opening, alongside Astera Labs. Intel advanced more than 5 percent.

Tuesday’s upward movement follows a session marked by losses, as traders assessed the intensification of the U.S.-Iran conflict. Central Command has executed its tenth consecutive night of strikes on Iran following President Donald Trump’s declaration that the ceasefire is “over.” In response, Tehran’s forces have targeted U.S. military assets throughout the Middle East, and its Houthi allies have announced a maritime embargo against Saudi Arabia. Oil prices fluctuated on Tuesday as Wall Street observed a renewed diplomatic initiative aimed at mediation efforts between the U.S. and Iran. Reports indicate that mediators are advocating for a 10-day ceasefire between the two opposing parties. West Texas Intermediate crude futures increased by 0.8% to $83.90 per barrel, whereas the international benchmark Brent rose by 0.6% to $89.77.

Oil experienced an upward movement during Monday’s trading session following President Donald Trump’s assertion in a Truth Social post that Tehran will be held accountable for the fatalities of three U.S. service members. The increase in energy prices exerted downward pressure on the major averages for the day, despite semiconductor stocks recovering some of the significant losses incurred last week.