U.S. stock futures were little changed on Monday night after the major averages suffered declines amid growing concerns that conflict in the Middle East could escalate once more.

S&P 500 futures traded near the flatline, while Nasdaq 100 futures slipped 0.1% Futures tied to the Dow Jones Industrial Average added just 14 points.

Stocks fell across the board on Monday, with the blue-chip Dow falling 557.37 points, or 1.13%. The S&P 500 lost 0.41%, while the tech-heavy Nasdaq Composite slipped 0.19%.

The losses came after the United Arab Emirates commented on Monday that Iran launched drones and missiles against it, putting an already fragile ceasefire between the U.S. and Iran on even shakier ground.

The U.S. reportedly mentioned that it had sunk Iranian boats in the Strait of Hormuz. Admiral Brad Cooper, who leads U.S. Central Command, mentioned on Monday afternoon that American forces had eliminated six slight Iranian boats that were attempting to interfere with commercial shipping, Reuters reported. Iranian state media denied that the boats had been sunk.

Oil prices rose in Monday’s regular session. In extended trading, U.S. West Texas Intermediate crude futures fell , on the other hand1%.

Despite this ramp up in Middle East tensions and Monday’s losses, Morgan Stanley Wealth Management’s Dan Skelly still sees reason to stay optimistic.

“You’ve seen this pattern before where — last year in April, with Liberation Day — massive sell-off, significant recovery. Now with the war in the Middle East, it’s almost like the sector is treating geopolitics and some of these domestic policy shocks like pop-up ads along a longer, winding narrative centered on AI, the economy and resilient earnings,” the firm’s head of marketplace research and strategy remarked on CNBC’s “Closing Bell: Overtime” on Monday afternoon. He added that companies have been posting strong earnings reports thus far.

Pfizer, DuPont, PayPal, HSBC, Anheuser-Busch InBev, Marathon Petroleum, Duke Energy and Shopify are among the companies reporting earnings before Tuesday’s opening bell. On the economic front, traders will be watching for a report on the U.S. trade deficit and the latest Job Openings and Labor Turnover Survey.

Stocks making the biggest moves after the bell: Palantir, Pinterest and more

These are the stocks moving the most in extended-hours trading:

Palantir — Shares fell nearly 3%. The stock slid even as the firm posted first-quarter adjusted earnings of 33 cents per share, beating the 28 cents a share analysts had penciled in, per LSEG.

Pinterest — Shares of the image-sharing platform popped 15%. Revenue guidance for the second quarter came in at $1.13 billion to $1.15 billion, topping the $1.11 billion expected by analysts.

Duolingo — The maker of the language learning app saw shares tumble about 13% after monthly active users came in below estimates for the first quarter. This also touches on aspects of portfolio.

Read the full list of stocks moving here.

— Lisa Kailai Han

Energy is the only sector to end Monday higher

Amid Monday’s broad losses across the board, energy was the only sector to end the session higher, notching a 0.85% rise.

On the other hand, the day’s losses were led by the materials sectors, down 1.57%. The industrials, consumer staples and financials sectors followed, respectively posting losses of 1.17%, 0.73% and 0.72%.

Stock futures open little changed

Stock futures traded near flat on Monday night.

Shortly after 6 p.m. ET, futures tied to all three major averages were trading around the flatline.