Ahead of the bell US stock futures surged on Monday after Washington and Tehran announced a ceasefire agreement that should reopen the Strait of Hormuz, sending oil prices sharply lower and lifting risk appetite at the start of a holiday-shortened week.
Nasdaq 100 futures led the advance with a gain of 2%, while S&P 500 futures rose 1.3% and Dow Jones futures climbed 1%, building on solid gains from Friday
President Trump described the ceasefire as “complete” in a Truth Social post late Sunday, with formal signing expected in Switzerland on Friday and peace talks to begin within 60 days. Brent crude fell roughly 5% to just above $83 a barrel as fears over supply disruptions eased, though tanker operators remain cautious given the lack of detail in the provisional agreement. SpaceX (NASDAQ:SPCX) added to the positive mood after shares extended Friday’s near-20% debut surge with further gains in premarket trading, pushing the Elon Musk-led company’s market value above $2 trillion.
The Federal Reserve’s rate decision on Wednesday is the week’s main event, with traders pricing in a near-certain hold