S&P 500 and Nasdaq futures rise after a tech recovery and U.S.-Iran agreement to pause hostilities in the Strait of Hormuz.
U.S. stock futures rose early Monday, led by a rebound in technology shares and easing geopolitical tensions. S&P 500 futures climbed 0.8%, while Nasdaq 100 contracts surged 1.2%, recovering from last week’s selloff. Dow futures added 0.4%, or 188 points.
The gains follow a sharp decline in tech stocks, with Nvidia and Alphabet each dropping over 8% last week. The Nasdaq Composite fell 4.6%, while the S&P 500 lost nearly 2%. The Dow, less exposed to tech, eked out a 0.6% gain, supported by Merck and Johnson & Johnson.
A U.S.-Iran agreement to halt hostilities and reopen the Strait of Hormuz to shipping bolstered sentiment. Both sides agreed to stand down, allowing commercial vessels to move freely, though technical talks will continue.