June S&P 500 E-Mini futures (ESM26) are up +1.53%, and June Nasdaq 100 E-Mini futures (NQM26) are up +1.57% this morning, pointing to a sharply higher open on Wall Street as sentiment got a boost after U.S. President Donald Trump said the U.S. and Iran had “very good” conversations about ending the Middle East conflict.
President Trump said in a Truth Social post on Monday that the U.S. and Iran have engaged in very good and productive discussions over the past two days. “Based on the tenor and tone of these in-depth, detailed, and constructive conversations, which will continue throughout the week, I have instructed the Department of War to postpone any and all military strikes against Iranian power plans and energy infrastructure for a five-day period,” Trump said. The price of WTI crude plunged over -6% on Monday, while Treasury yields were little changed.
