U.S. stock futures surged late Tuesday night after President Donald Trump said he would delay planned attacks on Iran for two weeks. The move eased tensions in the five-week conflict and sent oil prices lower. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 3.15%, 2.25%, and 2.47%, respectively, at 12:30 a.m. EDT on April 8.
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Trade QQQ with leverageAs a result, crude prices moved lower, with Brent crude (CM:BZ) down 13.4% to $94.72 per barrel, while Brent crude (CM:CL) fell 14.24% to $94.8 per barrel.
In the regular trading session, U.S. stocks pared losses to finish mixed as President Donald Trump increased pressure on Iran ahead of his deadline to reopen the Strait of Hormuz. The S&P 500 and the Nasdaq each rose 0.1%, while the Dow slipped 0.2%.
Looking ahead, traders will turn their attention to the FOMC meeting minutes, set for release tomorrow. Markets use the minutes to gauge whether the Fed is leaning toward rate cuts, rate hikes, or staying on hold. On the earnings front, Delta Air Lines (DAL) will report its quarterly earnings on Wednesday.