S&P 500 Futures Flat After Dow’s 0.92% Rally on Iran Deal, Oil Drops 5%
SPY•S&P 500 futures were unchanged while Dow futures edged up 16 points after the Dow rose 468.77 points (0.92%) to record intraday and closing highs on news the U.S. and Iran ended military operations. Oil futures plunged nearly 5% as the Strait of Hormuz is set to reopen Friday.
1. Futures Reaction
S&P 500 and Nasdaq 100 futures traded along the flatline Tuesday morning while Dow futures rose 16 points (+0.1%) following a record-setting session for blue-chip stocks.
2. Dow Record Close
The Dow Jones Industrial Average climbed 468.77 points, or 0.92%, marking both intraday and closing records as investors processed confirmation of a war-termination deal between the U.S. and Iran.
3. Oil Price Impact
Crude oil prices fell nearly 5% after an announcement that the strategic Strait of Hormuz will reopen on Friday, alleviating supply concerns and weighing on energy sector valuations.
4. Global Market Moves
In Asia, Japan’s Nikkei 225 hit an all-time intraday high and ended up 0.13%, South Korea’s Kospi gained 2.11%, while Hong Kong’s Hang Seng fell 1.64% and China’s CSI 300 dipped 0.15%.
