Trump Announces Iran Ceasefire, Market Rebounds
An 11th hour ceasefire just before President Trump's 8:00pmET deadline for Iran to reopen the Strait of Hormuz has served up an offramp to Middle East tension that roiled the markets for over a month and upon which investors had been counting on over several recent winning sessions. Following Trump's announcement of the deal on Truth Social that the bombing of Iranian infrastructure would be suspended pending the "complete, immediate, and safe" opening of Strait of Hormuz, along with separate reports that Iranian officials have agreed to the ceasefire proposal brokered by Pakistan negotiators, S&P e-mini futures are up over 2% above 6,800, Nasdaq 100 futures are up 2.4% above 25,000, while WTI Crude Oil is down by nearly $20 below $92 per barrel. The sharp rise in risk-appetite has also dented the U.S. Dollar and sent precious metals firmer, with Gold futures above 4,845 and Silver above $77 per ounce.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Skillsoft Corp.up 23.4%Phoenix Education Partnersup 9.2%Levi Straussup 7.3%ALSO HIGHER -Airlines / Cruise Lines higher on Iran ceasefire news: Delta Airlinesup 4.9%, United Airlinesup 6.5%, American Airlinesup 5.6%, Southwest Airlinesup 5.1%, Royal Caribbeanup 4.2%, Carnivalup 6.5%, Viking Holdingsup 4.6%.Nutanixup 2.2% after announcing increase to buybackDOWN AFTER EARNINGS -Kura Sushi USAdown 5.5%
