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Stock futures rose early Monday to kick off the holiday-shortened trading week after President Donald Trump announced that an agreement had been reached to end the war between the U.S. and Iran.
Futures for the Dow Jones Industrials popped 443 points, or 0.6%, to 51,670.
Futures for the S&P 500 index spiked 94 points, or 1.3%, to 7,529.
Futures for the NASDAQ Composite leaped 614 points, or 2.1%, to 30,276.
SpaceX shares popped 6% after soaring 19% in their public market debut on Friday.
Trump said late Sunday on social media that the deal with Iran was “now complete.” Pakistan Prime Minister Shehbaz Sharif said an official signing ceremony would take place on Friday in Switzerland.
Trump also said he authorized the reopening of the key Strait of Hormuz passageway, sending oil prices tumbling on Sunday. U.S. crude fell 5%.
Trump’s announcement came after an exchange of fire between Israel and the Tehran-backed Hezbollah in Lebanon raised uncertainty over whether the deal would get across the finish line on Sunday.
In Japan, the Nikkei 225 ballooned 5% Monday, while in Hong Kong, the Hang Seng moved forward 0.5%.
Oil prices faded $4.50 to $80.38 U.S. a barrel.
Gold prices brightened $121.10 to $4,359.90 U.S an ounce.
