- U.S. futures neared record highs amid reports of progress in U.S.-Iran talks.
- Nasdaq 100 and S&P 500 futures climbed as bullish momentum remained strong.
- Proposed talks include a ceasefire extension and reopening of the Strait of Hormuz.
U.S. stock index futures moved closer to record territory after reports emerged that Washington and Tehran may be advancing toward a possible peace deal tied to Iran’s nuclear negotiations and the reopening of the Strait of Hormuz.
According to market data from analyst Bull Theory, Nasdaq 100 E-mini futures climbed to near 29,758 points, gaining around 199 points or 0.67% during the session. The move pushed the index within a narrow distance of fresh all-time highs after a strong upward trend developed above the 28,000 range.
S&P 500 E-mini futures climbed about 37.5 points, or 0.50%, to trade near 7,528 as bullish momentum continued across the market. Futures approached the 7,530 level after breaking above the 7,200 range, with the broader trend continuing to show higher highs and higher lows. A brief consolidation phase suggested short-term profit-taking before buyers regained control.
Iran Negotiations Remain in Focus
The market gains followed renewed attention to discussions between the United States and Iran over a possible temporary agreement tied to nuclear negotiations and regional stability. Trump stated on social media that negotiations remained “constructive” but said both sides “must take their time and get it right.”
The deal under discussion includes a proposed 60-day ceasefire extension, the reopening of the Strait of Hormuz, and further negotiations over Iran’s nuclear program. U.S. Secretary of State Marco Rubio said there was a “pretty solid thing on the table” involving shipping access through the strait and additional negotiations over nuclear-related issues.
Iranian officials also signaled progress over the weekend. According to reports, three senior Iranian officials said that Tehran had agreed to a memorandum of understanding aimed at halting fighting and reopening the Strait of Hormuz without tolls or fees. Iranian Deputy Foreign Minister Kazem Gharibabadi later stated that Iran was “seeking peace with strength” while continuing diplomatic efforts.
Related: Nasdaq Hits Fresh Record as Five-Week Rally Adds Over $6 Trillion
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