Wall Street futures rise as report points to U.S.-Iran arrangement

Wall Street's main stock index futures moved higher early Tuesday after a report suggested the United States and Iran were close to "some sort of an arrangement" to end six months of conflict, easing some pressure from the latest surge in energy prices. Pakistan's defence minister, Khawaja Asif, told Bloomberg News that recent signals pointed to a peace agreement, shortly after Qatar's foreign ministry said Iran-Oman talks were in an advanced stage. Brent crude futures turned lower after touching one-week highs, reversing part of a move that had followed a 5% jump in oil prices on Monday as U.S. and Iran demands over reopening the strait complicated negotiations. Investors were also preparing for upcoming consumer and producer price data, which could reshape expectations for the U.S. Federal Reserve's September decision as rising energy costs add to inflation concerns. At 8:56 a.m. ET, Dow E-minis (futures contracts tied to the Dow) were up 54 points, or 0.1%, S&P 500 E-minis (futures contracts tied to the S&P 500) rose 11.5 points, or 0.15%, and Nasdaq 100 E-minis gained 103 points, or 0.35%. Among individual stocks, Riot Platforms surged 16.7% in premarket trading on a report of a $9 billion Anthropic deal, while Rocket Lab, On, Hims & Hers Health and Venture Global fell after company-specific updates.

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