08:53 AM EDT, 04/28/2026 (MT Newswires) -- US equity futures were mostly lower pre-bell Tuesday as the US-Iran standoff continues with no end in sight, while concerns about heavy spending on data centers were brought into focus amid reports of OpenAI's missed targets.

Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were down 0.8%, and Nasdaq futures were 1.4% lower.

President Donald Trump was unhappy with Iran's latest proposal to end the Middle East conflict, Reuters reported, citing a US official. Iran had proposed to reopen the Strait of Hormuz by deferring nuclear talks to a later date, while Trump wants nuclear issues dealt with from the outset.

Microsoft ( MSFT )-backed (MSFT) OpenAI recently missed internal targets for new users and revenue, raising concerns among company leaders about being able to support its massive spending on data centers, according to a Wall Street Journal report that cited sources familiar with the matter.

Traders digested the latest round of earnings. Coca-Cola (KO) reported higher Q1 adjusted earnings and revenue, while Novartis ( NVS ) posted a decline in Q1 core earnings and net sales.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $104.21 per barrel and US West Texas Intermediate crude 3.6% higher at $99.84 per barrel.

The February S&P Case-Shiller home price index, scheduled for release at 9 am ET, is expected to show a 0.2% gain following a similar increase in the preceding month, according to estimates compiled by Bloomberg.

The April consumer confidence index, due at 10 am ET, is projected to fall to 89.0 from 91.8.

In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.

In equities, Microsoft ( MSFT ), which is OpenAI's biggest investor, and Oracle (ORCL), which relies on the ChatGPT creator for its cloud computing plans, saw their shares decline 1.3% and 7.6%, respectively. Novartis ( NVS ) stock was down 1.4% after the company released its Q1 financial results.

On the winning side, Eni (E) stock was up 2.7% after the European energy firm and Repsol said they are planning to boost output at Venezuela's Cardon IV offshore gas field, according to a Reuters report. Bed Bath & Beyond ( BBBY ) shares were up 29% after the company reported a narrower Q1 adjusted loss and higher revenue. Coca-Cola stock was up 3% after the company published its Q1 financial results.