[MARKET ANALYSIS] US equity futures tick higher on efforts to end the Iranian war, ISM Services and Trump comments due later

The uptick in US equity futures suggests a positive market sentiment driven by hopes for a ceasefire in the Iranian conflict.

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[MARKET ANALYSIS] T-notes rise as crude dips on Iranian ceasefire efforts

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[MARKET ANALYSIS] US equity futures tick higher on efforts to end the Iranian war, ISM Services and Trump comments due later

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  • European bourses are closed for the Easter Holiday.
  • US equity futures have benefited from the constructive risk mood as hopes of a US-Iran ceasefire brighten. Initial upside was seen following a Reuters source report, stating that the Pakistan Army Chief held separate calls with US VP Vance, Envoy Witkoff and Iran’s Araghchi.
  • The report went on to state the conditions of a final agreement and that if agreed, it will lead to an immediate ceasefire and the reopening of the Strait of Hormuz. ES futures regained the 20-SMA and broke a downward trendline formed since the start of the Iran war.
Context

This development could have significant repercussions for risk assets and commodities, particularly if it leads to the reopening of critical trade routes like the Strait of Hormuz, which may impact oil prices and broader market stability.

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