US futures experienced volatility, with the S&P and Nasdaq 100 futures initially dropping but then recovering most losses. This market movement was primarily driven by renewed Middle East tensions, overshadowing strong tech earnings. Crude oil prices surged significantly, with Brent crude trading above $113 a barrel, as Iran asserted control over the Strait of Hormuz. President Trump announced that the US Navy would guide ships through the Strait, a move Iran has set a deadline for negotiations on. European stocks were mostly lower, while tech-heavy Asian markets in South Korea and Taiwan saw substantial gains. Some "Mag 7" tech stocks showed mixed performance in premarket trading. Bitcoin and gold exhibited inverse movements to oil, reflecting a broader market reaction to geopolitical news. Interest rates rose, with the 10-year Treasury yield increasing, while base metals trended higher. Economic data releases include March factory orders, and Fed speaker John Williams is scheduled to speak. Major corporate news includes GameStop's proposal to acquire eBay and Global Business Travel Group's agreement to be acquired. The market continues to be influenced by both geopolitical events and a strong earnings season across various sectors.