U.S. stock index futures edged higher on Monday as easing oil prices helped calm sentiment despite ongoing attacks between Iran and Israel and increased focus on the upcoming Federal Reserve meeting.

Stock futures fell sharply early Thursday, pointing to a rocky open as Wall Street grapples with a tragic plane crash involving Dow component Boeing (BA) and digests a blockbuster earnings report from software giant Oracle (ORCL).

Gold futures pared gains after rising close to a fresh record earlier in the session. Futures were down 0.5% at $3,433.90 a troy ounce, after opening near the record high of $3,509.90/oz. The precious metal rallied on Friday as rising Middle East tensions fuelled safe-haven demand,

U.S. stock futures have already pared about half of their overnight drop as some of the initial reaction seen across global markets has started to unwind. Oil prices have come off their highs after spiking 14%.

The major averages posted modest gains on Thursday, placing them on track for a winning week. Softer-than-anticipated inflation reports helped lift stocks.