U.S. stock futures pointed in different directions Thursday morning as traders tracked progress toward a deal to reopen the Strait of Hormuz while a fresh round of disappointing tech earnings rattled the Nasdaq.

Dow futures added about 133 points, or 0.24%, while S&P 500 futures edged up 0.13%. Nasdaq 100 futures fell 0.55%, pulled lower by sharp drops in Sandisk stock and AppLovin stock ahead of the open.

Sandisk stock tumbled more than 10% before the open after the data-storage company's fiscal fourth-quarter report came in below what investors had hoped for, according to CNBC. AppLovin stock dropped 18% on mixed quarterly results. The selloff extended to other AI-linked stocks.

On the energy front, oil prices edged higher as Iran and Oman moved closer to finalizing a draft agreement to reopen the Strait of Hormuz. An Iranian government official told MS NOW that a temporary agreement under discussion would allow vessels to pass through the Strait without paying fees or tolls, according to CNBC. Brent crude was up about 1.06% to $80.29 a barrel. The Dow closed at a record high on Wednesday.

Deutsche Bank strategist Jim Reid observed that focus has moved beyond whether a deal can be struck and toward its final shape, with outstanding uncertainty around whether Iran might one day be allowed to charge ships for Strait passage.

SpaceX stock also faces scrutiny Thursday as a post-IPO lockup covering more than 900 million shares reaches its end date, unlocking the ability for employees and early backers to offload their stakes for the first time, according to the Journal.