US stock futures are pointing to another strong start for Wall Street on Monday, 15 June, after the US and Iran agreed to end a nearly four-month-long conflict in the Middle East, a development that has pushed crude oil prices to multi-month lows. Sentiment was also supported by the strong Nasdaq debut of SpaceX, which helped keep the AI-driven rally intact.
S&P 500 futures rose 1.2%, extending their gains into a second straight session. Nasdaq 100 futures advanced 2%, while Dow Jones Industrial Average futures climbed 0.8%. Last week’s sharp market volatility brought an end to the S&P 500’s nine-week winning run, with the index declining 2.6%.
Global market sentiment improved after the US and Iran reached a peace agreement aimed at ending the Middle East conflict and reopening the Strait of Hormuz by the end of the week. US President Donald Trump said late Sunday on social media that the deal with Iran was “now complete.”
Trump also announced that oil shipments from the Persian Gulf could soon resume, including the lifting of a US blockade on Iranian ports. His remarks came after he had called off planned military strikes on Iran on Thursday, citing progress in negotiations aimed at ending the conflict.
Iran’s Supreme National Security Council reportedly confirmed on Sunday that Tehran had finalised a memorandum of understanding, stating that all military operations across all fronts, including Lebanon, would cease “immediately and permanently.”
The nearly four-month conflict in the region kept energy prices elevated, increasing the cost of living across major economies and prompting several central banks to raise interest rates.
The world has lost millions of barrels of oil and gas supply since the closure of the Strait of Hormuz, a key chokepoint that handles roughly one-fifth of global oil and liquefied natural gas shipments, for more than three months.
Meanwhile, SpaceX shares ended their debut trading session on Nasdaq 19% higher at $161 apiece after listing at an 11% premium to the issue price of $135. The strong debut reportedly pushed Elon Musk’s net worth beyond the $1 trillion mark, making him the first person to achieve the milestone.
“Attention now turns to upcoming central bank meetings, particularly the Federal Reserve, as investors assess whether easing energy prices can help cool inflation and improve the outlook for interest rates in the months ahead,” brokerage firm Vested Finance said.
Crude oil prices slip to a 3-month low
Reacting to the potential reopening of the Strait of Hormuz, crude oil prices remained under pressure for the second consecutive day. Brent crude futures declined $4.33, or nearly 5%, to $83.00 a barrel, while US West Texas Intermediate (WTI) crude fell $4.54, or 5.35%, to $80.34 a barrel.
Both benchmarks dropped to their lowest levels since March 10 after tumbling more than 3% in the previous session. The Strait of Hormuz will be “opening” on Friday following the signing of the agreement with Iran, President Donald Trump said in a post on Truth Social. The agreement would then pave the way for 60 days of talks on Iran’s nuclear programme.
Vested Finance said the agreement signals a potential turning point in a conflict that has disrupted markets and kept inflation concerns elevated. Lower oil prices have eased pressure on central banks and boosted expectations that policymakers may not need to keep interest rates higher for as long as previously feared.
US stocks in focus today
Among individual stocks, SpaceX shares were trading 5.6% higher in pre-market trade at $169, while Tesla shares gained 1.5% to $412.42.
Chip stocks also moved higher ahead of the opening bell, with Micron surging 8.2%, while Nvidia was up 2.3%. Intel added 3.1%, and Marvell Technology advanced 5.4%.
The decline in crude oil prices also lifted oil-sensitive stocks. United Airlines rose 4.4%, Delta Air Lines gained 4%, and American Airlines advanced 3.5%. Meanwhile, cruise operators Norwegian Cruise Line and Carnival Corp climbed 4.3% and 3.6%, respectively.
In other movers, Paramount Skydance shares gained 4.7% after the US Department of Justice cleared the company’s acquisition of Warner Bros., Reuters reported.
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