US stock futures edged higher Tuesday as investors assessed oil-supply concerns and dollar strength following record gains at the start of the week. The Dow Jones Industrial Average futures held near flat after the benchmark closed above 52,000 for the first time Monday, while S&P 500 and Nasdaq 100 futures rose 0.2% and 0.4% respectively. Markets were supported by a Supreme Court ruling preserving Federal Reserve independence and anticipated US-Iran peace talks beginning in Qatar.
Oil prices fell sharply as supplies through the Strait of Hormuz recovered faster than expected, shifting market focus from shortage fears to potential oversupply. Brent crude traded below $74 a barrel and WTI below $71. The dollar's continued strength pushed the yen to a 40-year low, raising intervention concerns in Japan.
Investors awaited Tuesday's JOLTS job openings report and Conference Board consumer confidence data ahead of Thursday's June employment report, with Nike set to report earnings amid industry challenges.
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