Stock market today: S&P 500, Nasdaq, Dow futures jump after US and Iran reach peace deal
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 more than 300 points, or 0.6%, while S&P 500 futures ( ES=F ) gained 0.8%. Nasdaq
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 more than 300 points, or 0.6%, while S&P 500 futures ( ES=F ) gained 0.8%. Nasdaq 100 futures ( NQ=F ) led the advance, jumping 1.3% as investors rotated back into growth and technology names.
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.
The US announced on Sunday that it reached a deal with Iran to end the fourth-month long war that has roiled the global market, calling for the re-opening of the Strait of Hormuz as soon as Friday. The news sent oil futures oil and stocks higher ahead of the week.
