US equity futures were mostly flat pre-bell Tuesday as the US and Iran remained at a stalemate regarding negotiations to reopen the Strait of Hormuz.

Dow Jones Industrial Average futures were flat, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.3% higher.

In response to Iran's conditions for reopening the waterway, US President Donald Trump said Monday that the Middle Eastern nation should pay reparations of its own for damage done over the past 50 years. "If there's damages to be paid, I think Iran should pay those damages," multiple reports quoted Trump as saying.

Iranian Foreign Minister Abbas Araghchi had earlier said that reopening the strait would be partly conditional on the US paying for damage caused during the conflict between the two countries.

Traders took note of the latest round of earnings, with Sea (SE) posting higher Q2 earnings and revenue.

Oil prices were steady, with front-month global benchmark North Sea Brent crude down 0.1% at $87.68 per barrel and US West Texas Intermediate crude 0.1% higher at $82.21 per barrel.

The existing home sales report, scheduled for release at 10 am ET, is expected to show a decrease of 1% for July after a 2.4% fall in the prior month.