US stock futures slipped modestly, with Dow down 79 points (0.2%) and S&P/Nasdaq futures each down about 0.1% at 03:36 ET.
Trump labeled Iran’s counteroffer “totally unacceptable,” after Tehran demanded compensation and claimed control of the Strait of Hormuz.
Brent crude rose 3.4% to $104.69 per barrel amid heightened global supply concerns from the Iran conflict.
Trump scheduled to visit China May 13‑15 for a summit with Xi, while April US CPI is at 3.7% YoY, 0.6% MoM.