Stock Futures Surge, Oil Plunges as Israel Agrees Ceasefire With Iran
Stock futures jumped and oil tumbled 4% on Tuesday as news of a ceasefire in the Middle East sent investors piling into risk-on assets and eased concerns about tighter crude supplies.
Israel confirmed the ceasefire with Iran early Tuesday, shortly after President Donald Trump declared the agreement had taken effect. Iran’s Foreign Minister Abbas Araghchi said earlier in a post on X that his country would halt its attacks as long as Israel ended its bombardments.
Futures tracking the Dow Jones Industrial Average rose 384 points, or 0.9%. S&P 500 futures jumped 0.9%, and contracts tied to the tech-heavy Nasdaq 100 gained 1.2%. The three blue-chip indexes had all rallied about 1% the previous session after Iran’s relatively weak response to U.S. strikes.
