U.S. stock futures surged after President Trump announced a ceasefire between Israel and Iran. Dow futures rose 0.9%, S&P 500 futures gained 1%, and Nasdaq futures climbed 1.3%.
Oil prices tumbled, with Brent crude falling over 4% to around $68 a barrel and WTI crude dropping to $66. Trump said the ceasefire would take effect at midnight ET, calling it the end of the “12-Day War.”
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Markets had been tense since U.S. strikes on Iranian nuclear sites, but Iran’s restrained retaliation eased fears. Fed Chair Jerome Powell’s testimony and earnings reports from FedEx and Carnival are also in focus today.
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