New York, June 15, 2026, 06:01 ET
U.S. stock futures jumped early Monday. Investors came back into risk assets after a preliminary U.S.-Iran agreement lessened worries about a lasting oil shock. Dow Jones futures were up 457 points, or 0.89%, at 51,684, while S&P 500 futures gained 92.25 points, or 1.24%, to 7,527.25. Nasdaq 100 futures rose 629.25 points, or 2.12%, to 30,291.25 just before 5 a.m. ET, Markets Insider data showed.
Oil and rates were the main drivers. Reuters said Washington and Tehran have a tentative agreement to end the Iran war and get tankers moving through the Strait of Hormuz again. That hit crude hard, with Brent and U.S. oil down more than $4 a barrel early, AP said. Markets Insider showed WTI futures off 5.62% to around $80.11 and Brent down 4.25% near $83.11. Cheaper oil can boost stocks since company fuel bills drop and lower prices ease inflation, which the Fed watches.
Energy-sensitive names and growth stocks led premarket trading. United Airlines climbed 4.4%, Delta was up 4%, American Airlines added 3.5%. Among cruise lines, Norwegian Cruise gained 4.3%, Carnival rose 3.6%, according to Reuters. Chip stocks also traded higher, with Micron up 8.2%, Nvidia up 2.3%, Intel higher by 3.1% and Marvell Technology gaining 5.4%. That basket helped Nasdaq futures outperform. Lower oil prices and less market anxiety favored tech, especially as Treasury yields moved down.
Bulls say a lasting deal would clear a big inflation hurdle, lift transport and consumer stocks, and let the market get back to focusing on earnings growth. Bears push back, pointing out the deal is only a framework for now. Reuters says it doesn’t resolve Iran’s nuclear program or the Lebanon-Israel standoff. AP quotes Stephen Innes at SPI Asset Management: “The reopening of Hormuz is a relief valve, not a full peace dividend.” If talks break down, oil prices may bounce and stocks could drop as traders price in more geopolitical risk. Reuters AP News
Eyes turn to the Federal Reserve for the next big move. The Fed’s June meeting lands June 16-17, with policy news due at 2 p.m. ET Wednesday and a press conference half an hour later. Advance retail sales hit at 8:30 a.m. ET the same day, giving a look at consumer spending. Stronger retail sales could lift earnings hopes, but if inflation looks stubborn, that keeps worries about more rate hikes on the table.
U.S. stocks are trading at valuations seen as fair to a little stretched, not at bargain levels. FactSet’s latest Earnings Insight puts the S&P 500’s forward 12-month P/E at 20.1, higher than its five-year average of 19.9 and the 10-year mark of 19.0. There are reasons for it: FactSet projects S&P 500 earnings to grow 21.9% in Q2 and to jump 23.2% for 2026 as a whole. But with futures jumping sharply, bulls need oil’s gains to stick, the Fed to sidestep a hawkish tone, and no cracks in company outlooks.
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