US stock futures surged Sunday evening as investors welcomed news of a breakthrough agreement to end the the US and Iran war ahead of a holiday-shortened trading week.
Dow futures (YM=F) climbed 0.8%, while S&P 500 futures (ES=F) gained 1%. Nasdaq 100 futures (NQ=F) led the advance, jumping 1.6%.
President Donald Trump announced on Truth Social late Sunday that a deal with Iran had been finalized, calling the agreement “complete.” Pakistan Prime Minister Shehbaz Sharif said a formal signing ceremony is expected to take place Friday in Switzerland.
Markets soared following the announcement, with Trump saying he had authorized the reopening of the Strait of Hormuz, a critical global oil shipping route. Iran is also due to received a serious of financial boons for following US agreements. Both nations are calling the deal a victory.
The development sent crude prices tumbling with West Texas Intermediate (CL=F) crude futures falling nearly 5% to $81 barrel as concerns over potential supply disruptions eased. Brent (BZ=F) crude futures fell over 3% to sit just above $84.
Wall Street enters the week with momentum following SpaceX’s (SPCX) blockbuster public debut. Shares of SpaceX soared more than 19% in their first trading session, pushing the company’s market value above $2 trillion. The stock added another 3% in after-hours trading, underscoring strong demand for high-profile growth stories.
Looking ahead, investors will focus on key economic reports, while also awaiting the Federal Reserve’s latest policy decision. According to CME FedWatch, markets are pricing in better than a 98% probability that policymakers leave interest rates unchanged.
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