Late Sunday, U.S. stock futures traded higher as the Trump administration reportedly said the U.S. and Iran would “stand down” for now following an exchange of strikes. The news offered a glimmer of hope to investors who had been bracing for a broader conflict in the Middle East.
Dow futures rose 127.00 points, or 0.24%, to 52,336.00, while S&P 500 futures gained 28.00 points, or 0.38%, to 7,429.75 and Nasdaq 100 futures climbed 63.50 points, or 0.22%, to 29,431.75 as of around 8:52 p.m. EDT.
In commodities, WTI crude oil rose 1.05% to $69.96 per barrel, while Brent crude gained 0.75% to $72.53 per barrel. Natural gas futures edged up 0.52% to $3.296 per MMBtu. The U.S. dollar index stood at 101.365, little changed on the day.
Asian markets were lower, with South Korea’s KOSPI falling 1.96% to 8,246.75, while Japan’s Nikkei 225 declined 1.60% to 68,253.39.
A Trump administration official said, “Both sides will stand down for now and vessels can move freely,” following several days of military exchanges near the Strait of Hormuz, according to CNN. A separate U.S. official told the outlet that American and Iranian officials are scheduled to meet on Tuesday in Doha, Qatar, for further discussions. Iran has not publicly confirmed the reported pause in hostilities.
The latest developments follow a tense weekend during which President Trump warned of additional military action if Iranian strikes continued, while Iran cautioned that any ceasefire violations would “result in the complete halt of all diplomatic processes.”
Although the U.S. and Iran signed a memorandum of understanding earlier this month aimed at reopening the strategic waterway and advancing negotiations over Iran’s nuclear program, recent attacks on vessels and retaliatory strikes have underscored the fragility of the agreement. A senior U.S. administration official said technical talks on implementing the memorandum remain “on track” and that deconfliction channels between the two sides remain operational, the report said.
