S&P 500 futures climb 0.5% as US-Iran attacks halt
US stock futures increased following reports of a halt to US-Iranian attacks. Futures linked to the S&P 500 climbed 0.5%, while Nasdaq 100 futures rose 0.6% and Dow Jones contracts inched up 0.3%.
The halt in attacks comes after a weekend of escalating tensions in the Middle East, which had renewed concerns over global energy supplies. Oil prices moved higher, with Brent crude gaining 0.8% to $72 a barrel and US West Texas Intermediate crude rising 1.1% to $70.
The S&P 500 and Nasdaq Composite had fallen nearly 2% and 4.6% last week, respectively, as the strikes destabilized already rocky markets. Major stocks such as Nvidia, Alphabet, Meta, Apple, and Amazon declined more than 4% each.
The easing of tensions has provided a temporary reprieve for investors, but the situation remains volatile and subject to change.