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LIVE Updated 17 mins ago
US stock futures climbed on Wednesday after Trump extended the US ceasefire with Iran, as investors waited for Tesla (TSLA) to lead out megacap tech earnings.
Contracts tied to the S&P 500 (ES=F) rose roughly 0.6%, as those on the Nasdaq 100 (NQ=F) advanced 0.7%. Dow (YM=F) futures gained around 0.5%, following a losing day for Wall Street stocks.
Markets have come under pressure amid growing skepticism that Washington and Tehran would reach a lasting peace agreement before the ceasefire ran out on Wednesday.
The extension to the truce introduces temporary relief, but the path forward remains uncertain. Efforts to hold a fresh round of talks have fallen apart, with Trump citing difficulty dealing with a “seriously fractured” Iranian government. Iranian officials. meanwhile, say the talks are a “waste of time” because of the US’s lack of commitment to previous deals.
Traffic in the key Strait of Hormuz remains stalled as both sides hold to their warnings against ship movements in the region. Oil futures swung between small losses and gains after a report that Iran has received “some sign” that the US may be willing to “break” the blockade.
Brent (BZ=F) crude, the global benchmark, was last up over 1%, breaking above $100 a barrel. Meanwhile, US benchmark West Texas Intermediate (CL=F) edged up to $91 a barrel.
On the corporate front, earnings reports from Tesla (TSLA), AT&T (T), and Boeing (BA) are all expected on Wednesday.
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