Stock futures were mixed on Tuesday, as traders weighed a slew of corporate earnings releases and rising oil prices while awaiting the release of key inflation data. Dow Jones Industrial Average futures fell 333 points, or 0.6%. S&P 500 futures were down 0.1%, while Nasdaq-100 futures rose 0.5%. Shares of International Business Machines dropped nearly 21% in the premarket after the company posted preliminary second-quarter earnings of $2.93 per share, excluding certain items. That’s below a FactSet consensus of $3.01 per share. Big banks JPMorgan Chase, Wells Fargo, and Bank of America also released their Q2 results, with shares of each in negative territory. Goldman Sachs posted an earnings beat, sending the stock up more than 1%, however. Semiconductor stocks rebounded after a sell-off in the previous session. The VanEck Semiconductor ETF (SMH) traded more than 2% higher in the premarket. Applied Materials gained more than 4%, while Lam Research, STMicroelectronics, Teradyne, and Micron Technology all rose more than 3%. The major U.S. stock benchmarks dropped Monday after President Donald Trump said he would reinstate a blockade on Iranian shipping through the key Strait of Hormuz. “We are reinstating THE IRANIAN BLOCKADE, so named because it is only stopping Iran’s ships or customers from entering or leaving,” Trump said in a post on Truth Social. The announcement sent oil prices surging and stocks sliding on Monday. Brent crude soared more than 9% for its biggest one-day gain since 2020. On Tuesday, U.S. crude topped $80 per barrel and was last up 2% on the day. International benchmark Brent crude futures added 2% to above $86 a barrel. Inflation data for June is also on deck Tuesday, with the latest consumer price index reading scheduled for 8:30 a.m. ET. Fed Chairman Kevin Warsh also will meet with lawmakers on Capitol Hill Tuesday as part of his two-day “Humphrey Hawkins” reports on monetary policy. It is the first time the new Fed chief will present the central bank’s semiannual reports. U.S. Treasury yields rose again on Tuesday as traders’ expectations for Federal Reserve interest rate hikes grow amid an increasingly fractured Middle East ceasefire. It comes ahead of Fed Chairman Kevin Warsh’s debut testimony before Congress later this week and inflation data for June, due later in the session. The key 10-year Treasury yield—the main benchmark for U.S. government borrowing—was more than 1 basis point higher, at 4.622% by 6:02 a.m. E.T. Yields on the 2-year Treasury note, which are more sensitive to short-term Federal Reserve rate policy, rose by more than 1 basis point, at 4.277%. The 30-year bond yield, meanwhile, rose nearly 1 basis point to 5.105%. Japan’s Nikkei 225 reversed losses to close 0.7% higher at 67,743.50, supported by gains in energy stocks amid elevated oil prices. South Korea’s Kospi rose 0.7% to 6,856.83, reversing early losses. Index heavyweight SK Hynix also changed course to end 3.7% higher after dropping more than 8% earlier in the day. Australia’s benchmark S&P/ASX 200 ended flat at 8,808.50. Mainland China stocks closed 2.15% higher at 4,796.50 after the country reported its exports in June jumped at the fastest pace since 2021, driven by an AI boom and a tariff rush that lifted trade. Hong Kong’s Hang Seng index was 0.6% higher in its last hour of trade on Tuesday, lifted by gains in basic materials and energy sectors. Gold ticked higher on Tuesday after hitting a two-week low, while ​focus was on ​the U.S. Consumer Price ​Index data and Federal Reserve Chair Kevin Warsh’s testimony for monetary policy clues. Spot gold rose 0.5% to $4,019.50 per ounce after falling to its ⁠lowest ‌level since July 1 earlier in the session. U.S. ⁠gold futures for August delivery. gained 0.5% to $4,026.20. “Gold prices are edging higher today, supported by a pause in the U.S. dollar’s recent rally,” said ActivTrades analyst Ricardo Evangelista. The U.S. dollar ‌index was down 0.2%, making dollar-priced bullion less expensive for holders of other currencies.