[MARKET ANALYSIS] US equity futures tick higher on efforts to end the Iranian war, ISM Services and Trump comments due later
Importance
Level 1
- 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.
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