Stock Futures Rebound as Oil Prices Drop Amid Middle East Tensions

U.S. stock index futures rebounded slightly on Friday as oil prices dropped in response to reports of a potential deal between the U.S. and Iran to reopen the Strait of Hormuz.

The news offered some relief after a surge in crude and Treasury yields spooked Wall Street earlier in the week, causing concerns over inflation.

However, hostilities in the Middle East persist, particularly between Saudi Arabia and the Houthis.

The positive sentiment was also fueled by recent U.S.-China summit, where Chinese President Xi Jinping expressed optimism about cooperation on artificial intelligence with U.S. leaders.