Markets on Wall Street were poised to follow global markets sharply higher Monday after a tentative deal was announced on ending the Iran war and reopening the Strait of Hormuz, while oil prices fell close to $5 a barrel.
Futures for the S&P 500 climbed 1.3% before the opening bell, while futures for the Dow Jones Industrial Average gained 0.9%, Nasdaq futures jumped 1.3%.
After repeated false starts, investors were betting that this time, the war might end. U.S. President Donald Trump confirmed the initial agreement and authorized an end to the U.S. naval blockade of Iranian ports.
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