S&P futures showed minimal movement Tuesday following the Dow Jones Industrial Average’s ascent to a new record in the prior session, attributed to a possible agreement between the U.S. and Iran. S&P 500 and Nasdaq 100 futures exhibited minimal movement, remaining close to the flatline. Futures associated with the Dow increased by 16 points, representing a change of less than 0.1%. The blue-chip Dow on Monday gained 468.77 points, or 0.92%, to set intraday and closing records. The S&P 500 experienced an increase of over 1%, whereas the tech-focused Nasdaq Composite surged by 3.1%.

In Asia, Japan’s Nikkei 225 achieved an all-time intraday high, concluding the day with a gain of 0.13%. Meanwhile, South Korea’s KOSPI surged by 2.11%. Hong Kong’s Hang Seng Index experienced the most significant decline among major Asian indexes, decreasing by 1.64%, whereas mainland China’s CSI 300 saw a slight decrease of 0.15%. Australia’s benchmark S&P/ASX 200 concluded the trading session with little change. The pan-European Stoxx 600 index traded 0.6% higher, with regional gains led by industrial and banking stocks. The moves followed the announcement by President Donald Trump regarding a deal between the U.S. and Iran aimed at concluding the conflict in the Middle East.

Pakistani Prime Minister Shehbaz Sharif announced that both parties have officially declared the cessation of their military operations across all fronts, with a formal signing ceremony scheduled for this Friday in Switzerland. A senior official from the Trump administration informed that the memorandum of understanding was signed electronically on Sunday. The president also indicated that the crucial Strait of Hormuz passageway would resume operations on Friday, resulting in a nearly 5% decline in oil prices on Monday. Vice President JD Vance stated on Monday that the strait would “be opened in a toll-free way for the long term.”

“I would say overall, the market reaction was fairly positive,” said Keith Lerner on Monday afternoon. “Even though the S&P 500 hasn’t quite gotten back to where it was, underneath the surface it’s indicating a level of economic resilience. I anticipate some volatility in the near term; however, it’s difficult to express dissatisfaction considering the substantial recovery since the March lows, and we are still maintaining a solid position.” On Tuesday morning, market participants will closely monitor the housing starts for May, along with the export and import price indexes.