* Futures up: Dow 0.41%, S&P 500 0.49%, Nasdaq 0.77%

* Intel ( INTC ) rises after reported talks with Apple ( AAPL ) for

chipmaking

* Archer-Daniels-Midland ( ADM ) up following Q1 profit beat

(Updates before market open)

By Niket Nishant and Utkarsh Hathi

May 5 (Reuters) - Wall Street's main indexes were on

track to recover on Tuesday as oil prices fell despite renewed

Middle East tensions that threatened to upend a fragile truce

after the U.S. and Iran exchanged fire ​in the Gulf.

Markets are being pulled in opposite directions by the

conflict and the rapidly shifting situation on the ground. While

some investors believe worst-case scenarios are still not fully

priced in, others argue the focus should remain on underlying

economic fundamentals and strong earnings.

Moves have been volatile as a result, with equities

vulnerable to sudden reversals as new and often conflicting

headlines emerge.

At 8:26 a.m. ET, Dow E-minis rose 221 points,

or 0.41%, S&P 500 E-minis added 35.25 points, or 0.49%,

and Nasdaq 100 E-minis gained 213.75 points, or 0.77%.

Brent crude futures lost 2.1% but were still trading

above $110 a barrel.

"Earnings have been better than expected, which has been

great, considering the valuations. You need the earnings to

support where you are," said Joe Saluzzi, co-head of equity

trading at Themis Trading.

"There are certainly big issues out there that I think the

market is overlooking and that might come back to haunt us."

Crucially, the vital Strait of Hormuz oil shipping route

remains disrupted.

Being a net energy exporter, the U.S. has held up better

than several other economies, with the benchmark S&P 500

and the Nasdaq Composite hitting record highs in recent

days.

However, "even U.S. equities won't be insulated" if the

Strait of Hormuz does not open, BlackRock Investment Institute

analysts led by Global Chief Investment Strategist Wei Li said

in a note.

Meanwhile, grain trader Archer-Daniels-Midland ( ADM ) rose

1% in premarket trading after reporting better-than-expected

first-quarter profit on higher margins.

DuPont ( DD ) gained 1.8% after the industrial materials

maker lifted its annual profit forecast.

Shares of Pinterest ( PINS ) jumped 17.7% after the

image-sharing platform forecast second-quarter revenue above

analysts' estimates.

Intel ( INTC ) rose 3.8% after Bloomberg News reported Apple ( AAPL )

had held exploratory discussions about using Intel ( INTC )

and Samsung Electronics ( SSNLF ) to produce the main

processors for its devices.

Investors now await the U.S. Labor Department's latest Job

Openings and Labor Turnover Survey, ⁠or JOLTS report, due for

release at 10 a.m. ET.