Wall St futures surge on U.S.-Iran interim peace deal; Fed in focus

Investing.com – U.S. stock index futures rose sharply early Monday after Washington and Tehran confirmed they had reached a preliminary peace deal to end their war and reopen key shipping lanes in the Middle East.

S&P 500 Futures jumped by 89 points, or 1.2%, by 05:56 ET (09:56 GMT). Nasdaq 100 Futures surged 582 points, or 2%, while Dow Jones Futures 418 points, or 0.8%.

Wall Street was set for a strong open on Monday after positive, tech-fueled rallies in European and Asian markets.

The main averages advanced to finish the prior week, buoyed by the hopes of an imminent agreement between Washington and Tehran as well as a spike in shares of SpaceX after their record-setting public debut. Even as some analysts highlighted worries around SpaceX’s fundamentals, the stock jumped above its IPO price of $135 a share, giving Elon Musk’s reusable rocket group a value of more than $2 trillion and making it one of the largest publicly listed U.S. firms.

Other space-industry names, such as Rocket Lab and Planet Labs, rallied in the wake of the flotation.

U.S.-Iran peace deal confirmed, to be signed on Friday 

The U.S. and Iran have reached an interim peace deal which would end a war that has dragged on for more than three months, threatening the global economy in the process.