Stock Futures Jump on Tech Bounce After U.S. and Iran Agree to Halt Strikes

U.S. stock futures climbed early Monday as investors reacted to reports that the U.S. and Iran agreed to halt further strikes and resume talks, easing some of the geopolitical pressure that had weighed on markets in recent days.

Tech stocks led the premarket rebound, with traders quickly buying back shares that had been under pressure during a sharp monthlong selloff in megacap names. AI-linked stocks were among the early gainers.

Futures Turn Higher

Barron's reported that Dow futures were up 211 points, or 0.4%, while S&P 500 futures rose 0.8% and Nasdaq 100 futures gained 1.1%. MarketWatch separately reported smaller early gains, with Dow futures up 160 points, or 0.3%, and S&P 500 and Nasdaq futures each up about 0.6%.

The move followed reports that the two countries had agreed to stop mutual strikes after a volatile stretch that raised concerns about the Strait of Hormuz, a critical route for global oil shipping.

Tech Leads The Rebound

Wall Street's biggest technology names have been under heavy pressure, and Barron's said the Magnificent Seven had lost nearly $2.8 trillion in market value this month. MarketWatch said the Nasdaq was down more than 6% in June before Monday's rebound.

The early move higher reflected a search for relief in the same stocks that had driven much of this year's market action. WSJ said AI-linked shares, including Nvidia, were rising in premarket trading.

What The Market Is Watching

Axios reported that a senior U.S. official said the U.S. and Iran agreed to halt mutual strikes and meet Tuesday in Doha, Qatar. WSJ reported that a U.S. official said vessels would move freely through the Strait of Hormuz.

That leaves investors focused on whether the reported pause in fighting holds, whether shipping routes remain open and whether the rebound broadens beyond the largest technology names once U.S. trading begins.

The next test will be whether the futures gains survive into the cash open and whether the planned talks in Doha produce a more durable de-escalation.