U.S. stock futures point slightly higher on Tuesday

U.S. stock futures are pointing to a slightly higher open early Tuesday as investors weigh escalating U.S.-Iran military strikes and an intensifying domestic debate over AI data centers.

The Polymarket (CRYPTO: POL) crowd is leaning bullish for the Sept.

1 trading session.

The “S&P 500 (SPX) Up or Down on September 1?” contract currently reflects a 56% chance of a higher open.

Why That Number Matters Traders are confronting a resurgence of Middle East violence alongside crucial incoming economic indicators and corporate earnings: Slightly Positive Index Futures: Equity futures are pointing to a modestly positive open.

At the last check, Dow Jones futures advanced 0.08%, S&P 500 futures ticked up 0.04%, Nasdaq 100 futures rose 0.09%, and Russell 2000 futures climbed 0.08%.

Geopolitics & Energy: U.S.

President Donald Trump threatened further strikes against Iran after Tehran launched missiles at two U.S. air bases in Jordan.

This Iranian retaliation followed a U.S. attack on Iran’s Larak Island.

The renewed conflict sent energy markets higher; Brent crude futures jumped 3.36% to $91.34 a barrel, and U.S.

West Texas Intermediate (WTI) crude rose 1.14% to $86.74 a barrel.

Data Center Debate: President Trump warned that communities rejecting AI data centers risk being “backwards and poor,” arguing that blocking such projects benefits China.

The data center buildout has sparked a bipartisan political fight; Senator John Fetterman (D-Pa.) backed Trump’s stance to secure AI supremacy, while former Representative Marjorie Taylor Greene mocked the position, citing noise pollution and high water consumption.

Earnings & Eco Data: Tuesday’s earnings docket features cybersecurity firm Palo Alto Networks Inc. (NASDAQ: PANW ), Dell Technologies Inc. (NYSE: DELL ), and MongoDB Inc. (NASDAQ: MDB ).

On the economic front, investors await August’s flash S&P U.S. manufacturing PMI data at 9:45 a.m.

ET, followed by the ISM manufacturing PMI, July construction spending, and July JOLTS job openings data at 10:00 a.m.

ET.

The Bull Case and Market Outlook According to technology analyst Luke Lango, the recent U.S.-Iran strikes have reignited oil, inflation, and rate-hike fears, pushing the 10-year Treasury yield above 4.75%.

However, Lango views the current combination of $85 oil and elevated yields as a stuck range rather than a springboard to much higher levels, noting Trump’s historical pattern of one-sided escalation without full-scale follow-through.

Crucially, this macro environment has not deterred hyperscaler AI capex decisions, which means AI infrastructure spending is likely to persist despite the geopolitical headwinds.

How the Previous Bet Played Out The Aug.

31 Polymarket contract resolved “Down.” The contract recorded $98,537 in total trading volume.

On Monday, the SPDR S&P 500 ETF Trust (NYSE: SPY ) and Invesco QQQ Trust ETF (NASDAQ: QQQ ), which track the S&P 500 and Nasdaq-100, respectively, closed mixed.

The SPY was down 0.30% to $767.05, while the QQQ advanced by 0.046% to $716.76.

Meanwhile, the Dow tracker, State Street SPDR Dow Jones Industrial Average ETF Trust (NYSE: DIA ), ended 0.65% lower at $531.57.

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