U.S. stock index futures edged higher as investors bought the dip and waited for upcoming central bank decisions.

U.S. stock index futures edged higher as investors bought the dip; oil prices narrowed earlier gains that were driven by attacks on key energy infrastructure in the Middle East.

At 8:31 a.m. New York time, S&P 500 futures rose 0.2%, after the benchmark index posted its largest gain since the start of the war. Nasdaq 100 futures were flat, and Dow futures increased 0.2%.

Iran’s attacks on energy facilities across the Persian Gulf caused Brent crude to jump as much as 4.8%, though the gains later eased. U.S. Treasury yields were little changed after ADP Research reported a slowdown in private-sector employment growth. The dollar remained steady.

The ongoing conflict between the U.S., Israel, and Iran continues to influence markets. A recent survey by Bank of America showed investor sentiment turning bearish, with increased cash holdings. The bank noted that its broadest market sentiment indicator fell to a six-month low in March.

“Although the S&P 500 is slightly soft, it’s only about 4% below its pre-conflict high,” said Mark Malek, Chief Investment Officer at Siebert Financial. “This suggests that markets and investor sentiment remain resilient. Ultimately, the U.S. market still offers the best upside opportunities, which has helped ease some market panic.”

Nvidia rose 0.3% in pre-market trading. The company expects sales of its flagship AI processor to reach at least $1 trillion by 2027, prompting a positive analyst response. After Delta Air Lines issued an optimistic Q1 sales forecast, its stock rose more than 4%.

Investors are also closely watching central bank decisions, with the Federal Reserve and the European Central Bank both scheduled to hold meetings later this week.

The Fed will kick off a two-day policy meeting on Tuesday, with a rate decision due on Wednesday. Analysts widely expect the Fed to keep rates unchanged. The Producer Price Index will also be released on Wednesday, providing insights into February’s inflation performance.