US Futures Gain, Oil Falls on Signs of Iran Talks: Markets Wrap

A trader works on the floor the New York Stock Exchange (NYSE) in New York, US, on Monday, Feb. 2, 2026. Wall Street kicked off Feb. with gains in stocks as solid factory data bolstered optimism about Corporate America while losses in gold and silver moderated after Friday's dramatic rout. Photographer: Michael Nagle/Bloomberg Photo by Michael Nagle /Bloomberg

Article content

(Bloomberg) — US stock futures rose and oil fell as improving risk sentiment was buoyed by prospects of shipping resuming through the Strait of Hormuz and progress toward a US-Iran deal.

Article content

S&P 500 Index futures gained 0.2% after the underlying gauge closed at a record high on Friday. Contracts for the Nasdaq 100 Index also advanced. Brent crude declined 2% in early trading Monday, while the dollar edged lower against most major peers. Japanese markets are shut for a holiday Monday.

Article content

Article content

Article content

President Donald Trump said the US will begin guiding ships not involved in the Iran conflict through the Strait of Hormuz from Monday, and described discussions with Tehran as “very positive” after it received Washington’s response to its latest proposal to end the war. The steps may pave the way for smoother energy flows and a potential deal, even as uncertainty over the conflict persists.

Article content

Article content

“The devil is always in the detail, but is a positive signal as it shows both parties are willing to find common ground,” said Rodrigo Catril, a strategist at National Australia Bank in Sydney. Whether the positive sentiment lasts “is hard to tell. We have been here before,” he said. 

Article content

Iran’s proposal called for a complete end to the conflict within 30 days along with guarantees against renewed strikes, the semi-official Tasnim News Agency reported. The plan reiterates Tehran’s earlier demands, including that US forces withdraw from near Iran, a maritime blockade be lifted, sanctions removed and reparations paid, it said. On Sunday, Iran said it received the US response to its plan via Pakistan, and is reviewing it. 

Article content

Article content

The latest headlines add to the month-long surge in risky assets as traders mostly set aside concern about the economic fallout from the hostilities, with signs of corporate resilience driving stocks to their best month since 2020. 

Article content

The S&P 500 and Nasdaq 100 ended April at highs with about 81% of the S&P 500’s companies having beat first-quarter earnings estimates, according to data compiled by Bloomberg. Emerging market equities notched a fresh record high toward the end of April while a gauge of Asian stocks have almost recouped their war-driven losses. 

Article content

Risk-taking went beyond equities, with high-yield credit spreads near multi-year tights and retail traders piling into prediction markets and zero-day options. The rally has held through the war in Iran, oil above $100 a barrel and a Federal Reserve that has signaled rates will stay higher for longer amid elevated energy costs.  

Article content

“The market is being very patient with this level of uncertainty because it is focused on the other side of the conflict, which may be too optimistic,” said Joe Gilbert, a portfolio manager at Integrity Asset Management. “The economic damage being done will be more materially felt in the next month.”

Article content

Some of the main moves in markets:

Article content

Stocks

Article content

Article content

Currencies

Article content

Article content

Cryptocurrencies

Article content

Article content

Commodities

Article content

Article content

This story was produced with the assistance of Bloomberg Automation.

Article content