Investing.com– U.S. stock index futures rose on Tuesday evening after President Donald Trump announced a pause in an operation aimed at reopening the Strait of Hormuz.
Trump also said a deal with Iran was close, and that the pause was aimed at facilitating an agreement.
Futures rose after Wall Street hit record highs on Tuesday, amid growing hopes for a broader de-escalation in the U.S.-Israel war on Iran.
rose 0.4% to 7,315.0 points by 19:39 ET (23:39 GMT). rose 0.8% to 28,363.0 points, while rose 0.2% to 49,510.0 points.
Trump says Hormuz operation suspended, Iran deal close
Trump on Tuesday evening said the military was temporarily pausing an operation to reopen the Strait of Hormuz, dubbed Operation Freedom.
Trump said the pause was to facilitate a “complete and final agreement” with Iran, noting “great progress” in talks with Tehran. But he also said a naval blockade against Iran will remain in place.
Trump’s comments come after Defense Secretary Pete Hegseth also struck a somewhat conciliatory tone towards Operation Freedom earlier on Tuesday, stating that the campaign was temporary.
The launch of Project Freedom sparked increased military action in Hormuz this week, with Iran seen attacking several ships while also launching missile strikes against the United Arab Emirates. The U.S. said it had struck several Iranian vessels.
Hegseth and Trump’s comments spurred bets on a potential de-escalation in the Iran war, driving sharp gains in risk-driven markets. Iranian officials also flagged some progress in talks with Washington.
rose 0.8% to a record closing high of 7,259.23 points. jumped 1% to a record high of 25,326.13 points, while rose 0.7% to 49,298.25 points.
Alphabet rises on Anthropic deal; AMD surges on bumper Q1
was a major boost to Wall Street on Tuesday, rising to a record high after reports said the company received a $200 billion spending commitment from artificial intelligence startup Anthropic.
was a standout in aftermarket trade, rallying over 15% after the NVIDIA Corporation (NASDAQ:NVDA) rival clocked stronger than expected first-quarter earnings, and also presented an upbeat outlook for the current quarter.
Like Nvidia, the chipmaker has benefited greatly from outsized demand in the AI industry.
A host of other key earnings are due in the coming days, with chip designer Arm Holdings (NASDAQ:ARM), media giant Walt Disney Company (NYSE:DIS), and ride hailing major Uber Technologies Inc (NYSE:UBER) set to report on Wednesday.
McDonald’s Corporation (NYSE:MCD), Gilead Sciences Inc (NASDAQ:GILD), and McKesson Corporation (NYSE:MCK) will report on Thursday, while beyond earnings, data for April is due on Friday.