Traders observed notable activity on the New York Stock Exchange as futures dipped slightly on Thursday night, primarily influenced by ongoing concerns regarding a fragile two-week ceasefire between the United States and Iran. S&P 500 futures and Nasdaq 100 futures fell approximately 0.2%, while futures linked to the Dow Jones Industrial Average decreased by 53 points, marking a decline of 0.1%.
Despite the slight pullback in futures, the stock market had a strong showing earlier in the day. The S&P 500 saw a gain of 0.62%, and the Nasdaq Composite advanced by 0.83%. The Dow experienced a notable increase, climbing 275.88 points, or 0.58%, which positioned it into positive territory for the year 2026.
The rise in stocks on Thursday was attributed to President Donald Trump’s agreement to halt attacks on Iran for a two-week period. Oil prices had seen a decline from earlier highs, contributing to the performance of the S&P 500. Additionally, Israeli Prime Minister Benjamin Netanyahu’s announcement regarding negotiations with Lebanon further bolstered market sentiment. However, Mohammad Bagher Ghalibaf, Iran’s parliamentary speaker, criticized Israel’s attacks on Lebanon, calling them a breach of the ceasefire agreement.
On Tuesday evening, Trump extended a deadline for Iran to reopen the vital Strait of Hormuz, which has been closed due to the ongoing conflict that has persisted for five weeks. The announcement of the ceasefire triggered a significant rally in stocks, with all three major indexes surging more than 2%. The Dow recorded its best day since April 2025.
Stephen Parker, co-head of global investment strategy at J.P. Morgan Private Bank, commented on the market’s reaction, suggesting that the recent relief rally has the potential for sustainability. He noted the significant drawdown in U.S. equity markets has not been proportionate to the drastic changes observed in energy markets. Parker expressed optimism regarding energy prices, predicting they would gradually decline over the upcoming months, fostering a constructive environment for equities in light of the anticipated positive earnings season.
Currently, the major indices are poised for substantial weekly gains, with the S&P 500 up nearly 3.7% by Thursday’s close, marking its best week since November. The Dow has risen 3.6% thus far, while the Nasdaq is on track for a 4.3% increase.
In terms of forthcoming economic data, traders will be closely monitoring the consumer price index readings for March. Economists surveyed by Dow Jones anticipate a month-over-month increase of 0.9% and a 3.3% year-over-year gain. Additional reports on durable goods and factory orders are also expected soon, which could further influence market movements.
