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US Equity Futures Lower Pre-Bell as Trump Says Middle East Ceasefire on 'Life Support'

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US equity futures were lower pre-bell Tuesday as the standoff continued in the Middle East, with the ceasefire between the US and Iran on shakier ground after President Donald Trump said it was "on life support."

Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 0.9% lower.

Trump told reporters in the White House that the month-old truce is "unbelievably weak." He had rejected Iran's response to the US peace proposal. Iran's most recent counteroffer had included a demand for war reparations, an end to sanctions, full sovereignty over the Strait of Hormuz, and the release of frozen Iranian assets.

Traders monitored the latest round of earnings, with Sea (SE) and Venture Global (VG) posting higher Q1 earnings and revenue.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.2% at $107.57 per barrel and US West Texas Intermediate crude 3.4% higher at $101.37 per barrel.

The April consumer price index, scheduled for release at 8:30 am ET, is seen coming in at 0.6%, compared with 0.9% in the prior month, according to estimates compiled by Bloomberg.

Federal Reserve Chicago President Austan Goolsbee is slated to speak Tuesday.

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