Market Reaction
U.S. stock index futures surged on Sunday evening following confirmation of a U.S.–Iran peace agreement. By 19:06 ET (23:06 GMT), S&P 500 futures were up 0.8% at 7,557.75 points, Nasdaq 100 futures rose 1.3% to 30,337.74 points, and Dow Jones futures climbed 0.6% to 51,917.0 points. The rally built on a strong Friday session where SpaceX (NASDAQ:SPCX) posted a spectacular debut.
SpaceX IPO Highlights
SpaceX’s shares jumped more than 19% in its trading debut, delivering a market capitalization of roughly $2 trillion. The company raised $75 billion, marking the largest initial public offering in U.S. history, and propelled CEO Elon Musk to become the world’s first trillion‑dollar individual.
US‑Iran Peace Deal Details
President Donald Trump announced that a peace deal with Iran was complete, with the Strait of Hormuz slated to reopen in the coming days. Iranian Deputy Foreign Minister Kazem Gharibabadi confirmed on state television that a memorandum of understanding with Washington had been finalized and would be formally signed on Friday in Switzerland. While the specific terms were not disclosed, the agreement is expected to lift the U.S. naval blockade of Iran and restore shipping through Hormuz. It remains unclear whether Iran has agreed to cease its nuclear activities, a key U.S. demand. The deal is projected to ease geopolitical pressure on the global economy, potentially cooling energy markets and supporting lower inflation.
Federal Reserve Outlook
Attention this week centers on the Federal Reserve’s June policy meeting, the first under new Chair Kevin Warsh. Market consensus expects the Fed to leave the policy rate unchanged, reflecting recent energy‑driven inflation spikes and robust employment data that support an extended hold on rates.
Recent Index Performance
On the preceding Friday, U.S. equity indexes closed higher: the S&P 500 rose 0.5%, the Nasdaq Composite added 0.3%, and the Dow Jones Industrial Average increased 0.7%.