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Stock futures rose Wednesday, while oil prices declined to start the month, as hope grew that an end to the U.S.-Iran war was on the horizon.
Futures for the Dow Jones Industrials spiked 329 points, or 0.7%, to 46,911.
Futures for the S&P 500 index tallied 47.5 points, or 0.7%, to 6,618.25.
Futures for the NASDAQ soared 235.75 points, or 1%. to 24,150.75.
Late Tuesday, President Donald Trump told reporters at the White House that he expects the U.S. military forces will leave Iran in “two or three weeks.”
Oil prices eased following that comment. West Texas Intermediate futures shed 1.3% to $100.02 per barrel. Brent crude slipped 0.2% to $103.76.
Optimism around a potential end to the war sent stocks soaring on Tuesday, the final trading day of March.
The moves came after an unconfirmed report said that Iranian President Masoud Pezeshkian was open to ending the war with guarantees. He made similar remarks earlier this month, saying in an X post that the “only way to end this war ... is recognizing Iran’s legitimate rights, payment of reparations, and firm int’l guarantees against future aggression.”
Investors will get more clues on the path forward for the U.S.-Iran war Wednesday at 9 p.m. ET, with Trump set to deliver an address “to the nation to provide an important update.”
Shares in Nike tumbled almost 9% Tuesday after its North America revenue came in at $5.03 billion, while analysts surveyed by LSEG had expected $5.04 billion. The “Just-Do-It” company also offered a weak sales outlook for its current quarter.
In Japan, the Nikkei 225 popped 5.2% Wednesday, while in Hong Kong, the Hang Seng jumped 2%
Oil prices declined $1.42 to $99.96 U.S. a barrel.
Gold prices shone $80.00 to $4,727.60 U.S an ounce.
