Traders work at the New York Stock Exchange on June 23, 2025.
NYSE
Stock futures rose early Tuesday after President Donald Trump said that a ceasefire between Israel and Iran had come into effect, marking the latest sign of easing tensions in the Middle East.
Futures tied to the Dow Jones Industrial Average added 350 points, or 0.8%. S&P 500 futures gained 0.9%, while Nasdaq 100 futures rose 1.2%.
“THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT!” Trump said in a post on Truth Social around 1 a.m. ET. That comes after he had announced the ceasefire hours earlier, which Israel confirmed.
Brent crude futures and West Texas Intermediate futures were down more than 3%, as concerns over an oil supply disruption dissipated.
“With Israel/Iran seemingly defused, the market is resuming its march to/through all-time highs,” traders at JPMorgan wrote. “With this geopolitical risk behind us, the Market is refocusing on the macro picture, preparing for earnings, and watching the looming deadline on the expiration of the tariff moratorium.”
To be sure, the conflict is not fully over. Israel has already accused Tehran of violating the ceasefire, while Iran said it remains “with hands on the trigger.”
Tuesday’s gains in stock futures put the Street on track to build on Monday’s strong advances. The major averages jumped after Qatar’s Defense Ministry said that its air defense had intercepted Iran’s retaliatory strike on a U.S. military base.
Stocks also caught a tailwind from falling oil prices on Monday. WTI futures reached their highest levels since January overnight, but settled down more than 7%.
On Tuesday morning, traders will watch Federal Reserve Chairman Jerome Powell as he speaks before the House Financial Services Committee and presents the central bank’s monetary policy report. The central bank chief will go before the Senate Banking Committee on Wednesday.
Powell’s appearance on Capitol Hill comes at a pivotal time: He is facing an aggressive push from the White House to cut rates — and in recent days two Fed officials have said they could see a case for dialing back policy as early as July.
—CNBC’s Jeff Cox contributed reporting.