Stock futures are little changed after Dow posts new record close on potential U.S.-Iran deal: Live updates
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City.
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Stock futures were little changed on Monday night after the Dow Jones Industrial Average climbed to a fresh record during the regular session thanks to a potential deal between the U.S. and Iran.
S&P 500 futures slipped 0.1%, and Nasdaq 100 futures traded nearly 0.2% lower. Futures tied to the Dow were down 30 points, or less than 0.1%.
During the day’s regular session, the blue-chip Dow gained 468.77 points, or 0.92%, to rise to a new record close. The index also reached a new all-time intraday high. The S&P 500 jumped 1.65%, while the tech-heavy Nasdaq Composite climbed 3.07%.
In Asia, South Korea’s Kospi advanced 0.61% on Tuesday, while the small-cap Kosdaq dropped 1.47%. Japan’s Nikkei 225 traded flat while the Topix slipped 0.38%. Hong Kong’s Hang Seng index futures were last at 24,799, lower than the index’s close of 24,842.67.
The moves came after President Donald Trump announced that the U.S. and Iran had reached a deal to end the war in the Middle East.
Pakistani Prime Minister Shehbaz Sharif said that both sides have declared the termination of their military operations on all fronts, with an official signing ceremony to take place this Friday in Switzerland. A senior Trump administration official told CNBC’s Megan Cassella that the memorandum of understanding was already signed electronically on Sunday.
The president also said that the key Strait of Hormuz passageway would reopen on Friday, sending oil prices down nearly 5% on Monday. Vice President JD Vance told CNBC’s “Squawk Box” on Monday that the strait would “be opened in a toll-free way for the long term.”
“I would say overall, the market reaction was fairly positive,” said Keith Lerner, CIO and chief market strategist at Truist Wealth, on CNBC’s “Closing Bell: Overtime” on Monday afternoon. “Even though the S&P 500 hasn’t quite gotten back to where it was, underneath the surface it’s telling you one of economic resilience. I expect things to be somewhat more choppy here in the near term, but again, it’s hard to complain after we have had a pretty good move off the March lows and still hanging in there pretty well.”
On Tuesday morning, investors will watch for May’s housing starts and export and import price indexes.
