U.S. Stock futures climbed on Wednesday after President Donald Trump extended a two-week ceasefire with Iran, citing Tehran’s fractured leadership, while strong earnings reports from companies like Boeing added to market optimism.
S&P 500 futures rose 0.7%, Nasdaq 100 futures gained 0.9% and Dow Jones futures added 335 points, reflecting investor relief that immediate hostilities were paused despite ongoing tensions. Trump’s extension followed a Truth Social post in which he said the ceasefire would continue until Iranian leaders submitted a unified proposal for talks, noting requests from Pakistan’s Prime Minister Shehbaz Sharif and Field Marshal Asim Munir.
Yet the ceasefire remains fragile. Iranian state media dismissed negotiations as a “waste of time,” and Iran’s navy seized two container ships in the Strait of Hormuz on the same day the extension was announced, underscoring persistent friction in a critical global shipping lane. Reports from The Modern York Times and Axios indicated that Vice President JD Vance’s planned trip to join peace talks was paused due to Tehran’s lack of commitment.
Beyond geopolitics, markets drew support from a robust start to earnings season. Boeing shares jumped more than 3% after reporting a smaller-than-expected first-quarter loss, joining over 80% of S&P 500 companies that have surpassed analyst estimates so far, according to FactSet. This earnings strength helped the S&P 500 erase all its war-related losses last week and close above 7,100 for the first time ever, with both the S&P and Nasdaq hitting multiple all-time highs.
For more on this story, see U.S. stock futures rise on Trump’s expectation of Iran deal.
Technology sectors led the rally, with Yahoo Finance noting that the XLK ETF for large-cap tech was on track for a historic 16th consecutive win, while the SOXX semiconductor ETF extended its streak to ten straight intraday record highs. Gains spread across industrials, financials, and consumer discretionary stocks, including names like Cummins, Eaton, Nucor, and Texas Instruments, signaling broad-based confidence in corporate resilience.
Even as equities advanced, precious metals found support. Kitco reported price gains for gold and silver amid what it described as “friendly outside markets,” suggesting investors were balancing risk appetite with a hedge against uncertainty — a dual dynamic often seen when geopolitical calm coexists with underlying fragility.
Stephanie Aliaga, global market strategist at JPMorgan Asset Management, told CNBC’s “Closing Bell: Overtime” that while the situation is far from “coast is clear,” markets remain forward-looking and see a de-escalatory path, bolstered by the AI boom and rising productivity gains across industries.
This follows our earlier report, Stocks slip as U.S.-Iran ceasefire doubts rise, oil jumps on Strait of Hormuz fears.
Why did Trump extend the ceasefire with Iran?
Trump said the extension was warranted due to Iran’s “seriously fractured” government and followed requests from Pakistan’s Prime Minister Shehbaz Sharif and Field Marshal Asim Munir to allow time for Iranian leaders to present a unified proposal for talks.
How are earnings season results influencing market sentiment?
Over 80% of S&P 500 companies that have reported so far have surpassed expectations, with Boeing’s better-than-expected loss contributing to a rally that pushed the index above 7,100 for the first time, erasing all war-related losses from earlier in the year.
