S&P futures exhibited minimal movement early Friday as market participants monitored the tenuous two-week ceasefire between the U.S. and Iran. S&P 500 futures exhibited little movement around 640 a.m., whereas Nasdaq 100 futures showed an increase of approximately 0.09%. Futures associated with the Dow Jones Industrial Average experienced a decline of 39 points, representing a decrease of 0.08%. Equities experienced an upward trajectory on Thursday, building on their gains from earlier in the week following President Donald Trump’s decision to temporarily suspend military actions against Iran for a fortnight. The S&P 500 experienced an increase of 0.62%, whereas the Nasdaq Composite saw a rise of 0.83%. The 30-stock Dow increased by 275.88 points, representing a rise of 0.58%, during the session, thereby entering positive territory for 2026.

Oil prices retreated from their peak levels of the day, while the S&P 500 experienced an uptick following remarks from Israeli Prime Minister Benjamin Netanyahu, who indicated that negotiations with Lebanon would commence “as soon as possible.” Tehran’s parliamentary speaker Mohammad Bagher Ghalibaf has pointed to Israel’s ongoing assaults on Lebanon as a breach of the ceasefire agreement established between the U.S. and Iran. On Tuesday night, Trump consented to a two-week extension of his deadline for Iran to reopen the Strait of Hormuz. The ongoing conflict in the Middle East, now in its fifth week, has led to the closure of a crucial waterway.

On the economic front, market participants will monitor the consumer price index reading for March. Economists surveyed by Dow Jones anticipate a month-over-month rise of 0.9% and a 3.3% increase compared to the previous 12 months. Durable goods and factory orders are set to be released, alongside the University of Michigan’s monthly consumer survey. Equities experienced a significant uptick on Wednesday in response to the announcement of a ceasefire, with all three primary indices advancing by over 2%. The Dow achieved its most significant daily gain since April 2025. Stephen Parker posits that the relief rally possesses sustainable momentum moving ahead. “The magnitude of the drawdown observed in equity markets, especially in the U.S., may not seem substantial when compared to the fluctuations and disruptions experienced in energy markets.

However, this perspective likely stems from an expectation that energy prices are poised to decline,” he stated. “Our base case is one where energy prices continue to gradually move lower over the next three to six months,” he stated. “We anticipate a slight decline in growth accompanied by a modest increase in inflation; however, this scenario remains favorable for equities, especially as we approach earnings season, which we expect to be quite positive.” The major averages are positioned for substantial weekly gains. The S&P 500 has surged approximately 3.7% as of Thursday’s close, on pace for its strongest week since November. The Dow has experienced an increase of 3.6% week to date, whereas the Nasdaq is set to achieve a rise of 4.3%.