Market Update: US Stock Futures Rise Amid Ceasefire Announcement
US stock futures saw a modest increase on Thursday evening following President Donald Trump’s announcement that Israel and Lebanon have agreed to a 10-day ceasefire.
Futures for the S&P 500 (ES=F) saw a 0.1% rise, while Nasdaq 100 futures (NQ=F) remained relatively stable. Futures tied to the Dow Jones Industrial Average (YM=F) gained 0.2%.
During the regular trading session, stocks climbed across the board, with both the S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) reaching new intraday and closing highs, rising by 0.3% and 0.4% respectively. The Dow (^DJI) rose by 115 points, which translates to a 0.2% increase.
The markets have now fully rebounded from losses associated with the recent tensions surrounding Iran. Trump indicated that the ceasefire would commence at 5 p.m. ET and hinted at the possibility of a long-term peace agreement after discussions set for the weekend.
In comments made to reporters at the White House, Trump expressed optimism about negotiations with Iran, stating, “It’s looking very good that we’re going to make a deal with Iran, and it’s going to be a good deal.”
In corporate news, Netflix (NFLX) experienced a significant drop in after-hours trading, despite surpassing first-quarter earnings expectations. The stock fell over 9% as investors reacted negatively to a lower-than-expected forecast for the second quarter.
Looking ahead, several financial institutions, including Truist Financial (TFC), State Street (STT), and Fifth Third Bancorp (FITB), are scheduled to announce their earnings prior to the market’s open on Friday.
Oil Market Update: Prices Stabilise Below $100 Amid Peace Talks
As the week comes to a close, oil prices remain under $100, influenced by ongoing peace negotiations that are soothing market volatility, according to a report by Bloomberg.
