Traders work on the floor of the New York Stock Exchange (NYSE) on March 31, 2026 in New York City.
Spencer Platt | Getty Images
S&P 500 futures were slightly higher on Tuesday night after all three major indexes surged during the regular session on hopes that an end to the Iran war is in sight.
Futures linked to the broad market index were last up nearly 0.3%, and Nasdaq 100 futures gained around 0.5%. Dow Jones Industrial Average futures gained 55 points, or 0.1%.
Late Tuesday, President Donald Trump told reporters at the White House that he expects the U.S. military forces will leave Iran in “two or three weeks.”
In Tuesday’s regular session, the blue-chip Dow added more than 1,100 points, or about 2.5%. The S&P 500 advanced 2.9%, while the Nasdaq Composite jumped 3.8%. It was the best daily performance since May for all three major averages.
The moves came after an unconfirmed report said that Iranian President Masoud Pezeshkian was open to ending the war with guarantees. He made similar remarks earlier this month, saying in an X post that the “only way to end this war — ignited by the Zionist regime & [U.S.] — is recognizing Iran’s legitimate rights, payment of reparations, and firm int’l guarantees against future aggression.”
Tensions appeared to thaw, with The Wall Street Journal reporting that Trump told aides he was willing to end the war even if the Strait of Hormuz remains largely closed for now. Later, the New York Post reported remarks from the president that he believes the Iran war will likely end soon and other nations will handle the strait.
Not all investors are convinced that the rally has legs.
Karen Finerman, co-founder and CEO of Metropolitan Capital Advisors, noted that oil prices remain elevated, perhaps hinting at lingering uncertainty. Brent crude futures for May delivery settled 4.94% higher at $118.35 per barrel on Tuesday, posting its highest close since June 16, 2022.
“I’m sort of leaning towards the oil is telling the truth of the situation. I think a lot of what happened here — oversold, for sure — but I got to think a lot of this is window dressing. We are at the end of a really difficult quarter, and so that’ll help a little bit, but I don’t know that that’s something that has follow-through,” she said on CNBC’s “Fast Money” on Tuesday afternoon.
Tuesday wrapped both a losing month and quarter for all three major indexes.
As the second quarter kicks off, traders will watch for earnings from Conagra, Lamb Weston and Cal-Maine Foods before Wednesday’s opening bell. They’ll also be awaiting February’s retail sales report, ADP private sector employment data for the month of March and March’s ISM manufacturing indicators.