Markets Rise After Iran Ceasefire Announcement

U.S. stock futures are surging higher in premarket trading after President Donald Trump said he was suspending Iran attacks for two weeks just ahead of his 8 p.m. ET deadline. “I agree to suspend the bombing and attack of Iran for a period of two weeks,” Trump posted on Truth Social. “We received a 10-point proposal from Iran, and believe it is a workable basis on which to negotiate.”

Trump noted that the “double sided” ceasefire was contingent on Iran agreeing to an opening of the Strait of Hormuz. Iran’s Supreme National Security Council has agreed to reopen the waterway for two weeks as long as all attacks are halted, according to a statement from Iran’s Foreign Minister. Oil prices are plunging 16% near $94 a barrel after trading above $117 yesterday ahead of the ceasefire.

Falling crude prices, Yields and the U.S. Dollar are also supporting the positive equity moves. Investor focus will continue to be on the conflict and a potential resolution with Volatility falling sharply on the ‘Risk-On’ rally.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are plunging 17% near $93.40 a barrel after President Donald Trump agreed to suspend attacks on Iran for two weeks in exchange for Tehran allowing safe passage through the Strait of Hormuz. WTI could log its worst daily performance since April 27, 2020 if it settles more than 14.52% lower.
• Gold (/GC) – Gold prices are up 2.7% near $4810, after the U.S. and Iran agreed on a two-week ceasefire. Also supporting gold is a sharply lower dollar and a steep fall in Yields.
• Bitcoin (/BTC) – The Crypto Future is up about 4.23% near 72,000 in premarket trading.
• VIX – The CBOE Volatility Index was up 6.7% on Tuesday and settled at 25.78 despite a rebound in stocks from deep early losses. The VIX is down 20% near the 20 level this morning as stocks rally.
• U.S. Dollar (/DX) – The dollar is down over 1% at about 98.7.

Biggest Premarket Movers (as of 7 AM ET)

1. Delta Air Lines (DAL): +12.54%
2. United Airlines (UAL): +12.43%
3. Carnival Corp (CCL): +9.88%
4. Micron Technology (MU): +8.35%
5. Norwegian Cruise (NCLH): +7.85%

1. CF Industries (CF): -10.67%
2. Dow Inc (DOW): -9.44%
3. APA Corp (APA): -9.10%
4. Occidental Petroleum (OXY): -7.85%
5. Diamondback Energy (FANG): -6.92%

Economic Data

• 7:00 AM ET: MBA Mortgage Applications
• 10:30 AM ET: Oil Inventories
• 1:00PM ET: 10-Year Note Auction
• 2:00PM ET: FOMC Minutes

Notable Earnings

• Premarket: DAL, RPM
• Postmarket: APLD, STZ, PSMT
• Premarket Tomorrow: BB, NEOG, SMPL
• Postmarket Tomorrow: N/A

Upgrades/Downgrades

• Jefferies upgrades Deere (DE) to Hold from Underperform
• MoffettNathanson upgrades T-Mobile (TMUS) to Buy from Neutral
• Barclays upgrades ViaSat (VSAT) to Equal Weight from Underweight
• Seaport Research downgrades Broadcom (AVGO) to Neutral from Buy
• Barclays downgrades Coinbase (COIN) to Underweight from Equal Weight
• DBS Bank downgrades Verizon (VZ) to Hold from Buy

This material is intended for informational purposes only and should not be considered a personalized recommendation or investment advice. Investors should review investment strategies for their own particular situations before making any decisions.

Schwab Network is brought to you by Charles Schwab Media Productions Company (“CSMPC”). CSMPC is a subsidiary of The Charles Schwab Corporation and is not a financial advisor, registered investment advisor, broker-dealer, or futures commission merchant.

Charles Schwab Media Productions Company and all third parties mentioned are separate and unaffiliated, and are not responsible for one another's policies, services or opinions.

Data contained herein is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. All events and times listed are subject to change without notice.