Topline
U.S. stock futures ticked up while markets in Asia and Europe soared on Wednesday morning amid renewed optimism about the Iran war ending soon after President Donald Trump said American forces will withdraw from Iran in two to three weeks.
Markets in Asia and Europe soared amid optimism about the war ending soon.
AFP via Getty Images
Key Facts
In early trading on Wednesday, the Dow Futures index rose 0.43% to 46,780 points, while the benchmark S&P 500 Futures rose 0.5% to 6,604 points—continuing a rally that saw both indexes rise 2.5% on Tuesday.
The tech-centric Nasdaq futures climbed to 24,092.50 points, up 0.75% from Tuesday’s close.
Markets in Asia also surged over optimism about a potential de-escalation in the conflict, with Japan’s Nikkei 225 surging 5.24%, while South Korea’s KOSPI jumped 8.44%.
Other key market indices in Asia, like Hong Kong’s Hang Seng and India’s Sensex, rose 1.91% and 2.27%, respectively.
European markets also climbed sharply, with the pan-European STOXX Europe 50 rising 2%, while the London Stock Exchange’s FTSE 100 rose 1.3%.
What About Oil Prices?
Hopes of a quick resolution to the war have also had a major impact on oil prices, with the global benchmark Brent Crude Index briefly slipping below $100 per barrel. Brent Crude Futures contracts for the month of June were at $101.67 per barrel at the time of publishing. The contracts for May, which have now expired, had risen to nearly $120 per barrel on Tuesday as Iran continued striking tankers and ships in the Persian Gulf.