- U.S. stock futures jumped Wednesday after President Donald Trump said he was
suspending Iran attacks for two weeks just ahead of his 8 p.m. ET deadline
- West Texas Intermediate crude futures tumbled more than 16% to $94.41 a barrel
following Trump’s declaration. International benchmark Brent for June delivery
lost more than 14% to $93.67 per barrel.
- Trump noted that the “double sided” ceasefire was contingent on Iran agreeing
to an opening of the Strait of Hormuz.
- Stock futures added to their gains after Trump posted Wednesday morning that
the U.S. will be working with Iran to remove nuclear material from the country
and that the two nations are discussing tariff and sanctions relief for Iran.
- Stocks that have been under pressure this year rallied in premarket trading,
with the megacaps Nvidia and Amazon jumping more than 3% and 4%, respectively.
Tesla shares advanced more than 4%. Shares of JPMorgan and Boeing climbed more
than 2% and 3%, respectively.
- A slew of companies traded lower as oil prices sunk below $100 per barrel
after the United States and Iran agreed to a two-week ceasefire that included
the temporary reopening of the Strait of Hormuz. APA shed more than 9%.
Occidental Petroleum and Diamondback Energy fell about 7%. Exxon Mobil declined
more than 5.5%, while Chevron was off nearly 4.5%.
- Vice President JD Vance said Wednesday the Iran accord may not be as strong as
it seems
- Crypto names were among the biggest gainers in early morning trading following
the news of the U.S.-Iran ceasefire.
- Bitcoin jumped 4% to over $71,000, while ether rallied nearly 7% to about
$2,200, according to Coin Metrics.
- European markets surged on Wednesday after the U.S. and Iran reached a
conditional ceasefire agreement.
- Asia markets surged Wednesday after investor sentiment improved when President
Donald Trump said he was suspending attacks on Iran for two weeks.
