U.S. equity futures were little changed on Tuesday following a rally driven by stocks tied to artificial intelligence. S&P 500 futures traded up 0.1%, while Nasdaq-100 futures slipped 0.1%. Dow Jones Industrial Average futures rose 220 points, or 0.4%. U.S. futures trimmed earlier losses after Iran reportedly offered to reopen the Strait of Hormuz within seven days, driving crude oil prices lower. The reports have not been independently verified by CNBC. Saudi Arabia is also reportedly planning to restart its East-West pipeline as early as this week. Tuesday’s moves follow a strong session on Wall Street. The S&P 500 climbed 1.5% for its best day since Aug. 4, while the Nasdaq Composite jumped 2.3% for its first closing record since June. The Dow Industrials rose 366 points, or 0.7%. A decline in oil prices fueled the stock market’s gains, while Treasury yields pulled back as well. Even prior to the Federal Reserve’s move to hike its key interest rate by a quarter point last week, Treasury yields have been trending higher as the economy contends with rising debt, elevated oil prices, and stubborn inflation. Traders’ attention will turn to this week’s summit in Washington, DC, between President Donald Trump and Chinese leader Xi Jinping. Artificial intelligence, the Iran war, tariffs, and rare earth metals are expected to be among the key topics covered in the meeting. Treasury Secretary Scott Bessent convened with Chinese Vice Premier He Lifeng prior to Xi’s visit to the U.S. Heading into Tuesday, traders will watch for the Richmond Fed’s manufacturing survey, as well as speeches from New York Fed President John Williams and Richmond Fed President Tom Barkin. U.S. Treasury yields eased on Tuesday as investors awaited new clues on the state of the U.S. economy. The yield on the benchmark 10-year Treasury note was 3 basis points lower at 4.933%. Yields on the 2-year note were down more than 2 basis points to 4.732%, while the 30-year Treasury yield fell more than 2 basis points to 5.269%. South Korea’s Kospi rose 0.15% to 7,017.91, while Australia’s benchmark S&P/ASX 200 gained 0.30% to 8,757.80. Hong Kong’s Hang Seng index was marginally higher in the last hour of trading on Tuesday, while mainland China’s CSI 300 closed 0.11% higher at 4,544.59. Japan’s markets were closed for a holiday. Crude oil prices fell for a fifth session Tuesday after reports that Saudi Arabia aims to restart its crucial East-West pipeline as soon as this week. Brent crude futures, the international benchmark, were down 1.8% at $98.56 a barrel by 7:15 a.m. ET. U.S. West Texas Intermediate futures traded 2.3% lower to $93.60 per barrel. Riyadh is running tests on the pipeline and could restart it this week, a person familiar with the matter told Bloomberg News. Sources told Reuters that the pipeline was already pumping at a low rate and could resume exports at the port of Yanbu on the Red Sea later Tuesday. Gold prices struggled for momentum on Tuesday as expectations of interest rates staying higher for longer weighed on sentiment, with investors awaiting comments from U.S. Federal Reserve officials for policy clues. Spot gold was little changed at $4,344.29 per ounce, as of 0151 GMT. US gold futures steadied at $4,381.80. Bullion is traditionally viewed as a hedge against inflation and geopolitical risks, but its appeal tends to wane in a high-interest-rate environment as investors favor yield-bearing assets.