U.S. stock futures were higher on Tuesday, while oil prices slid as traders reacted to a number of solid earnings results. S&P 500 futures rose 0.4%, while Nasdaq-100 futures gained 0.6%. Futures tied to the Dow Jones Industrial Average added 132 points, or 0.3%. Adding to the momentum in equity futures was yet another batch of better-than-expected quarterly results. Notably, Pfizer shares gained around 2% in the premarket after its first-quarter earnings and revenue beat expectations. The company also reaffirmed its forecast for the full year. U.S.-listed shares of Belgian brewer Anheuser-Busch InBev gained 6% following its upbeat quarterly results. Palantir Technologies was the exception, however, as shares retreated 2% even after the company’s first-quarter results surpassed analyst expectations, with revenue seeing the fastest growth since the company’s public market debut in 2020. It also raised its full-year guidance. Stocks fell on Monday after the United Arab Emirates said on Monday that Iran launched drones and missiles against it, putting an already fragile ceasefire between the U.S. and Iran on even shakier ground. The U.S. reportedly said that it had sunk Iranian boats in the Strait of Hormuz. Admiral Brad Cooper, who leads U.S. Central Command, said on Monday afternoon that American forces had eliminated six small Iranian boats that were attempting to interfere with commercial shipping, Reuters reported. However, Iranian state media denied that the boats had been sunk. The news sent oil prices rising in Monday’s session, weighing on stocks. Despite this ramp-up in Middle East tensions and Monday’s losses, Morgan Stanley Wealth Management’s Dan Skelly still sees reason to stay optimistic. “You’ve seen this pattern before where, last year in April, with Liberation Day, there was a big sell-off and a big recovery. Now with the war in the Middle East, it’s almost like the market is treating geopolitics and some of these domestic policy shocks like pop-up ads along a longer, winding narrative centered on AI, the economy, and resilient earnings,” the firm’s head of market research and strategy said on CNBC’s “Closing Bell: Overtime” on Monday afternoon. He added that companies have been posting strong earnings reports thus far. U.S. Treasury yields eased slightly on Tuesday after spiking the previous session, as concerns about higher energy costs caused by the Middle East conflict continue to grip markets. Yields on the 10-year Treasury note — a key barometer for U.S. government borrowing — were seen about 2 basis points lower, at 4.4241%, in early trade. Yields on the shorter-term 2-year Treasury note, which closely track interest rate decisions by the Federal Reserve, moved lower by more than 2 basis points to 3.9357%. The 30-year Treasury yield also slipped more than 2 basis points but remains above 5%, at 5.0074%. Stocks in Asia slid on Tuesday while oil prices eased but remained well above $100 a barrel, as the U.S. and Iran continue to work towards a truce while at the same time trading blows over the Strait of Hormuz. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.3%. Shares in Australia fell 0.4% in thinned Asia trade, while markets in Japan and South Korea were closed for a holiday. Oil prices declined on Tuesday as traders assessed the risk of immediate supply disruptions amid renewed tensions between the U.S. and Iran. International benchmark Brent crude futures dipped 1.2% to $113.24 per barrel at 7:11 a.m. ET, while U.S. West Texas Intermediate futures fell 1.8% to trade at $104.57. Brent and WTI settled 6% and 4% higher, respectively, on Monday. Gold prices rebounded on Tuesday from the previous session’s ​five-week low, as oil ​prices edged lower, but ​persistent Middle East tensions and inflation concerns kept gains in check. Spot gold rose 0.7% to $4,553.41 per ounce by 0935 GMT, after touching its lowest level since March ⁠31 ‌on Monday. U.S. gold futures for June delivery gained ⁠0.7% to $4,563.50. “A pullback in the oil price on profit-taking, despite tensions being intensified in the Middle East, has given a lift to gold from a five-week low, as fear seems to ‌have become normalised,” said independent analyst Ross Norman.