A White House official said that on Wednesday evening, after the Israeli cabinet meeting ended without a decision on a ceasefire, Trump spoke with Netanyahu and asked him for a ceasefire.

This development indicates a potential de-escalation in the ongoing conflict, contingent on the terms that Netanyahu has agreed to. If a ceasefire materializes, it could lead to a stabilization in markets sensitive to geopolitical tensions, particularly in energy and risk assets like equities and gold. Traders should watch for market reactions in oil prices and the currencies of the involved countries, as the situation unfolds.