Stock futures fell overnight due to stalled Iran peace talks and an escalation in the Strait of Hormuz, pushing oil prices higher. President Donald Trump scrapped plans to send U.S. special envoy Steve Witkoff and Jared Kushner to Pakistan for ceasefire talks related to Iran, citing the uncertainty surrounding the situation. No meeting between Tehran and Washington is currently scheduled. On the corporate front, five of the "Magnificent Seven" companies are set to report results in the final week of April, raising the stakes for a market already priced for strong growth. The Federal Reserve's policy decision on Wednesday could mark Jerome Powell's final meeting as chair before Kevin Warsh is expected to take over in May.