Preliminary 60-day ceasefire deal between US and Iran lifts market sentiment, easing shipping concerns in the Strait of Hormuz.
US stock futures rose in early European trading Friday, led by gains in the Dow Jones, S&P 500, and Nasdaq 100. Dow futures climbed 0.09% to near 50,790, while S&P 500 futures advanced 0.14% toward 7,600, and Nasdaq 100 futures gained 0.13% near 30,350.
The move follows reports of a preliminary 60-day ceasefire extension between the US and Iran, which could secure shipping routes through the Strait of Hormuz. The agreement requires Iran to clear maritime mines within 30 days. Markets remain cautious, however, as US officials have not yet formally approved the terms.
Wall Street closed higher Thursday, with the Nasdaq 100 and S&P 500 hitting record highs, up 0.91% and 0.58%, respectively. Dell Technologies surged over 39% in after-hours trading, boosting AI-driven market optimism.