U.S. stock futures jumped on Wednesday morning after President Donald Trump announced a two-week ceasefire with Iran, tied to the reopening of the Strait of Hormuz and an end to hostile attacks. Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were up 3.53%, 2.74%, and 2.67%, respectively, at 8:20 a.m. EST on April 8.
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New trading tool for QQQ bullsAhead of the 8 p.m. deadline set by Trump on April 7, he posted on Truth Social (DJT) that the U.S. would pause planned strikes on Iran’s civilian infrastructure, including bridges and power plants. The deal requires Iran to fully reopen the Strait of Hormuz immediately.
Oil prices sank in reaction to the favorable developments in the Middle East. At the time of writing, the international oil benchmark Brent (CM:BZ) was down 16.2% at $91.75 per barrel, while West Texas Intermediate (WTI) crude (CM:CL) plunged 17.9% to $92.71 per barrel.
During Tuesday’s regular trading, the three major indexes closed mixed as investors closely watched developments related to the Hormuz deadline. The S&P 500 and Nasdaq Composite each gained about 0.1%, while the Dow Jones dipped 0.18%.
Turning to trending stocks, shares of Delta Air Lines (DAL) surged 12% in Wednesday’s pre-market trading as oil prices fell on the news of a ceasefire. Also, the airline delivered upbeat Q1 2026 results. Additionally, Levi Strauss (LEVI) stock jumped 11% after the denim company reported market-beating Q1 2026 results and raised full-year earnings guidance.
Aside from Delta Air Lines, shares of other travel stocks also rallied on the de-escalation of tensions in the Middle East. Shares of United Airlines (UAL), Southwest Airlines (LUV), Carnival (CCL), Norwegian Cruise Line (NCLH), and Royal Caribbean (RCL) rose 13.3%, 11.5%, 11%, 8.9%, and 8.7%, respectively.