Trump Suspends Iran Strikes; S&P Futures Rally Over 2%
President Donald Trump suspended planned Iran military strikes for two weeks, contingent on Tehran’s safe, immediate reopening of the Strait of Hormuz under a conditional ceasefire agreement. S&P 500 futures rallied over 2% and WTI crude oil futures slid nearly 13% to $86.21 a barrel in after-hours trading.
1. Trump Suspends Iran Strikes
President Donald Trump announced a two-week suspension of planned military strikes against Iran, contingent on Tehran’s complete, immediate and safe reopening of the Strait of Hormuz and acceptance of a conditional ceasefire framework.
2. S&P 500 Futures Rally and Oil Slide
Following the announcement, S&P 500 futures jumped over 2% in after-hours trading while WTI crude oil futures fell nearly 13% to $86.21 a barrel, reflecting eased geopolitical tensions and resumed oil flows through the Hormuz channel.
3. Ceasefire Terms and Hormuz Access
Tehran’s acceptance of a 10-point proposal includes halting defensive operations if attacks cease, with Pakistan facilitating negotiations and an invitation to peace talks in Islamabad this Friday.