Here's a fun thing about markets: they can turn on a dime, or more accurately, on a tweet or a comment from a world leader. U.S. stock futures were pointing higher on Tuesday, building on a positive Monday close. The mood shift came as investors digested the idea that the recent tensions between the U.S. and Iran might not spiral further.

The catalyst? Comments from President Donald Trump on Monday, where he indicated the U.S. campaign against Iran could be nearing an endpoint, citing a heavily degraded Iranian military capacity. That was enough to flip the script on a day that had started with plenty of anxiety.

But the real drama wasn't in the steady climb of the indices. It was in the derivatives pit. Let's set the scene: by early afternoon Monday, oil was flirting with $120 a barrel and the S&P 500 was down more than 2%. Fast forward about 80 minutes. By 3:30 p.m. ET, something wild happened in the SPY options market. Call options with a $675 strike price—essentially bets that the SPDR S&P 500 ETF Trust (SPY) would rally—jumped a mind-bending 24,650%. They went from costing a mere $0.02 per contract to $4.95. That's the kind of move that happens when fear evaporates and bullish conviction rushes back in all at once.

Meanwhile, in the bond market, the 10-year Treasury yield was at 4.10%, with the two-year at 3.54%. According to the CME Group's FedWatch tool, the market is pricing in a 97.4% chance the Federal Reserve leaves interest rates unchanged at its March meeting. The focus, for now, is squarely on geopolitics, not monetary policy.

Here's how the major index futures were shaping up early Tuesday:

The ETFs that track the broad market were following suit. The SPDR S&P 500 ETF Trust (SPY) was up 0.47% at $681.44 in premarket trading, while the Invesco QQQ Trust ETF (QQQ), which tracks the Nasdaq 100, advanced 0.60% to $611.40.

Stocks Making Moves

Beyond the macro story, several individual stocks were capturing attention for company-specific reasons.

Lumentum and Coherent: Joining the Big Leagues

Shares of Lumentum Holdings Inc. (LITE) and Coherent Corp. (COHR) were up 4.47% and 4.03%, respectively. The rally followed Friday's announcement that both companies will be added to the S&P 500 index later this month. This news comes on the heels of a $2 billion investment from Nvidia Corp. (NVDA) into the two firms. According to market data, Lumentum maintains a strong price trend across short, medium, and long-term timeframes, though it has a poor value ranking.

MicroStrategy: Doubling Down on Bitcoin

MicroStrategy Inc. (MSTR) jumped 3.06%. The company, which has essentially become a publicly-traded Bitcoin treasury, disclosed it purchased 17,994 Bitcoin between March 2 and March 8. The total cost was $1.28 billion, or roughly $70,946 per token. Market data indicates MSTR has a weaker price trend across all measured timeframes.

Casey's General Stores: A Mixed Bag

Casey's General Stores Inc. (CASY) dropped 2.19% after reporting mixed second-quarter results after Monday's close. Despite the post-earnings dip, market data shows the stock maintains a strong price trend over the short, medium, and long term, coupled with a solid quality score.

Vail Resorts: A Downhill Guidance Revision

Vail Resorts Inc. (MTN) declined 1.28%. The ski resort operator posted downbeat earnings for its second quarter and, more importantly, reduced its fiscal 2026 guidance. Its stock shows a weaker price trend over the medium and long term but a stronger trend in the short term, with a moderate value score.

Oracle: Earnings on Deck

Oracle Corp. (ORCL) was up 2.40% ahead of its earnings report after Tuesday's closing bell. Analysts expect the tech giant to report earnings of $1.71 per share on revenue of $16.91 billion. Market data indicates Oracle has a weaker price trend across all timeframes and a poor value score.

Monday's Session in Review

Monday's rally was broad-based, with communication services, health care, and information technology stocks leading most S&P 500 sectors to a positive close. Here's how the major indices finished the day:

What the Pros Are Saying

In times like these, it's helpful to hear from strategists who are paid to keep a level head. Jeffrey Buchbinder and Adam Turnquist of LPL Financial are maintaining a tactically neutral stance on equities despite the Iran conflict.

They acknowledge that geopolitical shocks "understandably cause nervousness," but they have a historical fact in their back pocket: the S&P 500 has historically been resilient to such events. On average, they note, the index experiences pullbacks of only about 4.5% before stabilizing within a month.

Their primary economic concern isn't war itself, but the energy market. They point out that a prolonged shutdown of the Strait of Hormuz—a critical oil chokepoint—could push oil prices over $100 a barrel. However, they believe a full-scale global recession remains unlikely, asserting the global economy is "unlikely to be derailed."

Their advice is classic, sensible, and hard to follow in the moment: avoid emotional decisions and stay diversified. Their core message is one of patience: "Those who ride out the ups and downs, in time, will be grateful they did."

Interestingly, they see the current volatility not as a reason to flee, but as a potential opportunity. They state that their firm's asset allocation committee will look to "add equities at lower levels" rather than exiting the market due to short-term disruptions. It's a reminder that for disciplined investors, fear in the market can create entry points.

On the Economic Docket