Futures linked the main U.S. stock indices point slightly higher, as the outlook for fresh peace talks between the U.S. and Iran remains murky. But oil prices decline, signaling some optimism that a deal to extend a soon-to-expire ceasefire agreement will be reached. President Donald Trump’s pick to be the new Federal Reserve Chair is due to appear at Congressional hearings, with the central bank’s independence in focus. Elsewhere, Apple announces a major leadership shake-up, while a busy slate of U.S. corporate earnings lies ahead.

1. Futures tick up

U.S. stock futures edged higher on Tuesday, with investors cautiously eyeing the prospect of a fresh U.S.-Iran peace talks as a deadline for the end of a temporary ceasefire approaches.

By 03:30 ET (07:30 GMT), the Dow futures contract had risen by 75 points, or 0.2%, S&P 500 futures had gained 11 points, or 0.2%, and Nasdaq 100 futures had climbed by 69 points, or 0.3%.

The main averages on Wall Street finished marginally lower in the prior session, pulling back slightly from a sharp rally last week. Tensions flared up once again between the U.S. and Iran over the weekend, tempering what had been buoyant hopes on Friday for a permanent halt to hostilities and a lasting reopening of the critical Strait of Hormuz.

While traders have been racing to keep up with the rapid pace of developments around the Iran conflict, they have also been gearing up for a bevy of key quarterly company earnings this week.

“[S]tocks traded very well considering the (ostensible) setback over the weekend in the U.S.-Iran negotiations (or lack thereof), but investors are starting to ignore the daily noise and nonsense and focus instead on the bigger picture,” analysts at Vital Knowledge said in a note.

2. Uncertainty surrounds new U.S.-Iran peace talks

Stocks were muted in early trading in Europe, reflecting some investor caution ahead of the potential expiration of a two-week ceasefire deal between the U.S. and Iran.

The pause is due to end at an unspecified time later this week, although it remains uncertain whether both sides will agree to extend the halt.

Further imperiling the fragile was the U.S. seizure of an Iranian-flagged cargo ship, which led to a threat of retaliation from Tehran.

At the same time, contradicting signals from both sides have cast doubts over the state of possible peace talks. The White House has offered mixed messaging on who would lead the American delegation to the negotiations, while media reports suggested that Iran may send officials to the meeting in Pakistan even after Tehran said it would skip the second round of discussions.

Oil prices dipped, reversing earlier gains, on anticipation that the talks would eventually take place this week and help reopen crucial Middle East supply flows through the Strait of Hormuz, a critical waterway off Iran’s southern coast through which a fifth of the world’s oil transits.

However, crude is still hovering well above pre-war levels, while the head of the International Energy Agency has warned that the conflict is creating the worst energy crisis the world in history.

3. Warsh confirmation hearings

As the trajectory of the war stayed murky, traders were also pulling their attentions away from the Middle East and toward Washington, where Kevin Warsh, President Donald Trump’s pick to become the next Federal Reserve Chair, is due to speak at Congressional confirmation hearings.

Warsh’s comments could provide some insight into how he views the independence of the Fed, a topic that has grown in importance following high-profile spats between Trump and current Fed Chair Jerome Powell.

At the core of Trump and Powell’s disagreement have seemingly been a disagreement over the Fed’s ability to set interest rates free of political influence. Trump has long called on the Fed to aggressive slash borrowing costs to boost growth, but Powell has long underlined that the Fed will set rates based on broader economic trends.

In his prepared remarks cited by Reuters, Warsh is set to stress that he is “committed ​to ensuring that the conduct of monetary policy remains strictly independent.”

“Warsh’s confirmation hearing to be the next Fed Chair will see him having to tread a fine line between making the case for lower borrowing costs, which helped him get the nomination from the President, and preserving the Fed’s inflation-fighting credentials,” analysts at ING said in a note.

4. Apple announces CEO change

Apple shares edged down in extended hours trading following the company’s announcement that Tim Cook will transition to executive chairman and John Ternus will become the next chief executive officer.

The leadership change, which will take effect on September 1, was unanimously approved by Apple’s board of directors. It comes as a surprise to investors. Cook will continue as CEO through the summer to work closely with Ternus on the transition.

Ternus, currently senior vice president of Hardware Engineering, joined Apple’s product design team in 2001 and became a vice president of Hardware Engineering in 2013. He joined the executive team in 2021 and has overseen hardware engineering work across multiple product lines, including iPad, AirPods, iPhone, Mac, and Apple Watch.

As executive chairman, Cook will assist with certain aspects of the company, including engaging with policymakers around the world. Arthur Levinson, who has been Apple’s non-executive chairman for the past 15 years, will become lead independent director on September 1, 2026. Ternus will join the board of directors on the same date.

Cook became CEO in 2011 and has overseen Apple’s growth from a market capitalization of approximately $350 billion to $4 trillion, representing a more than 1,000% increase. Yearly revenue has nearly quadrupled from $108 billion in fiscal year 2011 to more than $416 billion in fiscal year 2025.

5. Earnings flood ahead

Investors were also turning their attention to a raft of incoming quarterly earnings, which could shed some light on the fallout from the Iran war on Corporate America.

Aircraft engine supplier GE Aerospace will be among the headliners of Tuesday’s reports before the opening bell, along with defense firm RTX Corporation, manufacturing player Danaher Corporation and healthcare group UnitedHealth Group.

After the market close, biotech company Intuitive Surgical, insurance firm Chubb, and financial services name Capital One are on the docket.