09:26 AM EDT, 07/22/2025 (MT Newswires) -- US stocks look set to open flat Tuesday as investors parsed Federal Reserve Chair Jerome Powell's opening remarks at the Integrated Review of the Capital Framework for Large Banks Conference in Washington.

Dow Jones Industrial Average futures were off 0.09%, S&P 500 futures were up 0.05%, and Nasdaq futures edged 0.03% lower.

Oil prices were moving lower, with front-month global benchmarks Brent crude and West Texas Intermediate crude falling 1.00% and 1.06%, respectively.

In other world markets, Japan's Nikkei was off 0.11%, Hong Kong's Hang Seng gained 0.54%, and China's Shanghai Composite rose 0.62%. In Europe's early afternoon session, the UK's FTSE 100 edged 0.17% lower, while Germany's DAX dropped 1.06% and France's CAC 40 was down 0.77%.

Powell said Tuesday that the US needs its large banks to be "well capitalized and to manage their key risks well." He also said they need "to be free to compete with one another, with nonbank financial firms, and with banks in other jurisdictions to provide capital and support economic growth."

Among rising shares, Dragonfly Energy ( DFLI ) shares were up nearly 70% in premarket activity, a day after the company said it struck an agreement with the holder of its series A convertible preferred shares to eliminate all outstanding shares of the series. IQVIA ( IQV ) stock rose more than 8% after the company posted higher Q2 adjusted earnings and revenue from a year earlier.

On the losing side, Replimune Group ( REPL ) shares were down more than 77% after the company said that the US Food and Drug Administration declined to approve its biologics license application for RP1 in combination with nivolumab to treat advanced melanoma.