May 4 (Reuters) - U.S. stock index futures were mixed on Monday, pointing to a cautious start to the week as investors assessed the growing U.S.-Iran standoff over the Strait of Hormuz, the crucial oil shipping route that remains shut.
While strong corporate earnings have given markets plenty to cheer in the recent weeks, the U.S.-Iran war remains a big 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.
"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."
On Monday, Iran's military warned U.S. forces not to enter the Strait of Hormuz after President Donald Trump said the United States would help free ships stranded in the Gulf.
Iran is also reviewing the U.S. response to its latest offer for peace talks, after previous diplomatic efforts have failed to produce a breakthrough.
At 4:47 a.m. ET, Dow E-minis were down 101 points, or 0.2%, S&P 500 E-minis were up 5.25 points, or 0.07% and Nasdaq 100 E-minis rose 61.75 points, or 0.22%.
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 0.8% and eBay rose 8.3% in premarket trading after the video game retailer unveiled a proposal to buy eBay for about $56 billion in a cash-and-stock deal.
(Reporting by Niket Nishant in Bengaluru; Editing by Arun Koyyur)
