Stock market today: Dow S&P 500, Nasdaq futures surge on news of a two-week ceasefire

US stock futures pushed higher Tuesday evening as markets reacted to news of a two-week ceasefire between the US-Israel coalition and Iran, announced by Trump via Truth Social.

Futures linked to the S&P 500 (ES=F) climbed 1.5%, while Nasdaq 100 (NQ=F) contracts popped 1.7%. Dow Jones Industrial Average futures jumped roughly 1% (YM=F)

Earlier Tuesday, equities had finished largely flat. The S&P 500 (^GSPC) edged up 0.1%, the Nasdaq Composite (^IXIC) added 0.1%, and the Dow Jones Industrial Average (^DJI) declined by 85 points, or 0.2%.

Late-session buying helped lift stocks off their lows after President Trump announced on Truth Social that he is looking to call a two-week ceasefire. Writing “I agree to suspend the bombing and attack of Iran for a period of two weeks. This will be a double sided CEASEFIRE!”.

The president also called for an immediate opening of the state of Hormuz. Iran has not issued an official response as of yet.

Oil prices fell on the possibility of an extension on Trump’s deadline for Iran to open the Strait of Hormuz. Brent (BZ=F) crude futures fell 5.4% in after-hours trading as West Texas Intermediate (CL=F) crude slipped around 4%, falling to just above $108 per barrel.

Trump had set an 8 p.m. ET deadline for Iran to reach an agreement with the US to reopen the waterway, warning in a post on Truth Social that “A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will,” if the deadline wasn’t met.

On the corporate front, Delta Air Lines (DAL) is scheduled to report earnings ahead of Wednesday’s opening bell.