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U.S. stock index futures posted sharp gains Wednesday after President Donald Trump announced a temporary ceasefire agreement with Iran, lifting market sentiment and triggering a dramatic drop in oil prices. The development sparked optimism across financial markets, with investors betting that a resolution to the Middle East conflict could ease inflation fears and open the door for Federal Reserve interest rate cuts later this year.
S&P 500 futures climbed 2.7%, Nasdaq 100 futures surged 3.5%, and Dow Jones futures jumped 2.6% in early trading. The rally came after a largely flat session on Tuesday, when gains in semiconductor stocks were not enough to offset weakness elsewhere.
Oil prices tumbled more than 13% after Trump revealed that the U.S. had delayed planned military strikes against Iran for two weeks to allow time for a long-term peace agreement to take shape. The sharp decline in energy prices helped cool concerns about an inflation spike, pushing U.S. government bond yields lower and providing additional support for equities.
Trump said the ceasefire came after conversations with Pakistani leaders, who served as intermediaries between Washington and Tehran. Iran's foreign minister confirmed that Tehran would halt its defensive operations and guarantee safe passage through the Strait of Hormuz under coordinated conditions. Pakistani Prime Minister Shehbaz Sharif invited both sides to Islamabad for talks on Friday.
Israel, which joined the U.S. in military operations against Iran in late February, expressed support for the truce. Strategists at Wolfe Research recommended buying into technology, semiconductors, industrials, and rate-sensitive sectors like housing on the back of the market bounce.
Despite the ceasefire announcement, reports of fresh drone and missile strikes in the Persian Gulf on Wednesday morning introduced renewed uncertainty, reminding investors that the path to lasting peace remains fragile.
