U.S. stock futures soared early Wednesday while oil prices plunged after President Donald Trump announced a two-week ceasefire with Iran, contingent on Tehran allowing the safe reopening of the Strait of Hormuz, triggering a sharp relief rally across global markets and easing fears of prolonged energy disruptions from the five-week conflict.
Futures tied to the Dow Jones Industrial Average jumped more than 1,000 points, or about 2.3%, in overnight trading. S&P 500 futures rose roughly 2.5%, and Nasdaq 100 futures climbed around 3.2%. West Texas Intermediate crude futures tumbled more than 15% to near $95 per barrel, while the international Brent benchmark dropped over 13% to around $94.
