US futures tied to the S&P 500, Dow and Nasdaq 100 recovered from earlier losses and turned slightly higher as investors reassessed energy prices and what they could mean for the Federal Reserve (U.S. central bank) ahead of fresh inflation data. The S&P 500 was testing a record high. Optimism signaled by Pakistani and Qatari authorities over a possible US-Iran deal pointed to the prospect of oil trade resuming through the Persian Gulf, which cut into a rebound in wholesale fuel prices that had initially followed President Trump hardening his rhetoric on Tehran. Treasury yields also trimmed their jump, offering some relief to financial stocks, with major banks trading higher premarket. In individual movers, Nvidia rose 1.5% after raising $500 billion with banks privately to fund more AI infrastructure, increasing leverage across the sector, while Intel extended the previous session's 4% slide with another 1.5% drop after increasing its expected stock sale by $5 billion to $20 billion. Attention is now turning to the US CPI (Consumer Price Index, an inflation gauge) report due tomorrow after multiple FOMC (Fed policy-setting committee) members signaled a possible rate hike next month.