Dow, S&P 500 futures jump on Iran deal optimism

Futures tied to the S&P 500 (ES=F) and the Dow Jones Industrial Average (YM=F) rose about 0.2%. Meanwhile, Nasdaq 100 (NQ=F) futures gained 0.4%, following modest gains on Wall Street in the previous trading session, News.Az reports, citing foreign media.

Washington and Tehran are reportedly weighing additional negotiations to extend their current two-week ceasefire, despite the ongoing US naval blockade of Iran’s energy ports. Trump said on Monday that “the right people” — widely interpreted as Iranian officials — have reached out “to work out a deal.”

Growing optimism that the April 7 truce could be extended before its expiration next week has strengthened expectations for a more durable peace agreement. On Monday, that sentiment helped the S&P 500 (^GSPC) erase losses accumulated since the start of the conflict.

Against this backdrop, oil prices slipped below $100 per barrel as investors monitored developments around the Strait of Hormuz. West Texas Intermediate (CL=F) crude fell 2.5% to below $97 per barrel, while Brent (BZ=F) crude dropped around 1% to approximately $98.

Looking ahead, markets are turning attention to earnings season. Major US banks including Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), JPMorgan Chase (JPM), and Morgan Stanley (MS) are set to report this week, providing key insights into the financial sector’s performance.