Wall Street futures whipsawed Monday after conflicting reports about a U.S. warship near the Strait of Hormuz heightened investor anxiety over the Middle East conflict.

Futures turned lower after a report from Iran's Fars news agency ‌said two missiles had hit a U.S. warship intending to pass through ​the Strait of Hormuz. They later trimmed losses after an Axios reporter posted on X that a senior U.S. official had denied the attack.

The ⁠fluctuation highlighted the degree to which investors have become sensitive to headlines tied to ​the conflict, particularly as they weigh geopolitical risks against a strong earnings backdrop.

While strong quarterly ⁠reports from corporate America have given markets plenty to cheer in recent weeks, the U.S.-Iran war remains a major overhang.

The conflict, now in its third month, has continued to weigh on the global economy as oil ‌prices stay elevated and the risk of renewed hostilities persists.

At 8:57 a.m. ​EST, U.S. stock futures were mixed, with S&P 500 futures slipping 0.09% to 7,251.75 and Dow futures falling 0.28% to 49,506. Nasdaq futures edged up 0.09% to 27,861.75, signaling a tentative start for tech shares.

Oil ‌prices rose 3.7% and were above $110 a barrel.

"Markets can look through the fog of war if the fog is likely to lift within a reasonable amount ⁠of time," said Brian Jacobsen, chief economic strategist ‌at Annex Wealth Management.

"The key ⁠is recognizing that what is happening is for now, not forever. That's easy to forget when you're living ⁠through the 'for now' ⁠part."

Meanwhile, Berkshire Hathaway reported on Saturday that it was a net seller of stocks for the 14th straight quarter.

The conglomerate, ‌often viewed as a bellwether of the U.S. economy, is closely watched for its insight into valuations and broader market conditions.

Separately, shares of GameStop dipped 4% and eBay rose 9.5% in premarket ‌trading after ​the video game retailer unveiled a ‌proposal to buy eBay for about $56 billion in a cash-and-stock deal.

Shares of logistics firms FedEx and United Parcel Service fell more than 2% each after Amazon.com said on ​Monday it was rolling out "Amazon Supply Chain Services," opening up its logistics network for other businesses to use.