Tesla and Alphabet are due to release results this week, followed by Microsoft, Meta, Apple and Amazon next week.
Oil prices had risen Monday after fresh fighting over the weekend in which the United States announced three new US military fatalities and one service member missing in action.
Iran’s Revolutionary Guards said on Tuesday they hit US military targets including air defence systems in Bahrain and Kuwait, state news agency IRNA reported.
Iran’s Yemeni allies, the Houthi rebels, also said Monday they would blockade Saudi ports, putting at risk Riyadh’s ability to bypass the Strait of Hormuz for some of its oil exports.
“In practice, we think even if there were disruptions it is unlikely to be sustained given the lack of capability right now by the Houthis to do so and also differentiate which are Saudi linked ships or not,” said Michael Wan at MUFG.
“All-in from a market perspective we think it’s still a reasonable base case that there is resolution in the conflict, even if things may get worse before it gets better,” Wan said.
US President Donald Trump meanwhile signed orders to impose new 50 per cent tariffs on many Canadian goods, claiming “discriminatory treatment” against American alcohol, automobile and dairy products.
Yields on British gilts rose on Monday after comments by new Prime Minister Andy Burnham about public finances worried bond investors.
In Asia, US Secretary of State Marco Rubio condemned “dangerous and aggressive actions” by China following a clash with the Philippine navy in the South China Sea, as he arrived for an ASEAN foreign ministers’ meeting.
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