Stock Futures Steady Amid Iran Deal Prospects and Oil Price Jump

Stock futures showed little movement as traders assessed the potential reopening of the Strait of Hormuz against ongoing U.S.-Iran tensions. The Dow Jones Industrial Average futures were down 37 points, while S&P 500 futures were slightly lower. Oil prices rose, with West Texas Intermediate crude increasing 5.1% to $82.13 per barrel and Brent crude climbing 5% to $87.72. Investors will focus on upcoming inflation data, including the July consumer price report, which may influence the Federal Reserve's rate decisions, impacting market sentiment.

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