Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are trading higher as the U.S. and Iran consider a 45-day ceasefire proposal drafted by mediators.
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New trading tool for QQQ bullsPakistan, Egypt, and Turkey have facilitated communications between the two sides in recent days. The mediators have urged Iran to accept a ceasefire ahead of an April 7 deadline imposed by President Trump, who warned that the U.S. would attack Iran’s power plants and bridges if the Strait of Hormuz remains closed.
Ceasefire Talks Underway as Hormuz Traffic Picks Up
The 45-day ceasefire would be the first phase of a two-part deal, with the second phase focused on negotiating an end to the war. The ceasefire could be extended if more time is necessary for talks.
President Trump told Axios that there is a “good chance” of a deal being reached, although Iran has shown reluctance to accept the terms.
Meanwhile, traffic through the Strait of Hormuz has edged higher in recent days, driven by countries that have signed safe-passage agreements with Iran. 21 vessels crossed through the passage over the weekend, the highest two-day total since early March.