President Donald Trump announced two-week ceasefire with Iran, pending reopening of Strait of Hormuz. At the same time, Iran has revealed its willingness to reopen Strait of Hormuz on Wednesday.
The ceasefire news has a direct impact on the pre-market and all major indices are set to surge. Early signs from the U.S. Futures Index suggest that Wall Street open exceptionally high.
In the Asian trading session, oil prices crashed below $100 a barrel. The dollar tumbled in Asian trading and oil prices slumped nearly 13 percent, while gold surged to three-week highs.
As of 7.55 am ET, the Dow futures were gaining 1291.00 points, the S&P 500 futures were up 185.25 points and the Nasdaq 100 futures were surging 864.00 points.
The U.S. major averages finished positive on Tuesday. The Nasdaq inched up 21.51 points or 0.1 percent to 22,017.85 and the S&P 500 crept up 5.02 points or 0.1 percent to 6,616.85, while the narrower Dow dipped 85.42 points or 0.2 percent to 46,584.46.
On the economic front, The Energy Information Administration or EIA’s Petroleum Status Report for the week will be held at 10.30 am ET. In the prior week, the Crude Oil Inventories were up 5.5 million barrels and Gasoline Inventories were down 0.6 million barrels.
Ten-year Treasury Note auction will be held at 1.00 pm ET.
The Federal Open Market Committee or FOMC minutes will be issued at 2.00 pm ET.
The four-month Treasury bill auction will be held at 11.30 am ET.
Asian stocks skyrocketed on Wednesday. China’s Shanghai Composite index rallied 2.69 percent to 3,995. Hong Kong’s Hang Seng index surged 3.09 percent to 25,893.02.
Japanese markets soared. The Nikkei average jumped 5.39 percent to 56,308.42 while the broader Topix index settled 3.32 percent higher at 3,775.30.
Australian stocks hit a five-week high. The benchmark S&P/ASX 200 rose 2.55 percent to 8,951.80, marking its highest level since March 3 and scoring its biggest single-day gain in a year.
The broader All Ordinaries index closed 2.74 percent higher at 9,165.70.
Business News
Wall Street To Surge On U.S.-Iran Ceasefire
2026-04-08 12:22:04
