President Donald Trump’s decision to extend the ceasefire period has triggered a widespread rally in U.S. stock index futures.
As of 6:20 p.m. (Korean time) on Tuesday, the New York stock market is showing positive momentum. Dow futures have climbed 0.40%, S&P 500 futures are up 0.39%, and Nasdaq futures have gained 0.45%.
Trump announced the extension of the ceasefire in response to a request from the Pakistani government, stating that it will remain in effect until Iran presents a unified proposal.
In a statement on Truth Social, Trump remarked that the Iranian government is deeply divided, which comes as no surprise.
He elaborated that Pakistan’s Army Chief General Asim Munir and Prime Minister Shehbaz Sharif had appealed to him to postpone any attacks on Iran until its leaders and delegation could formulate a cohesive proposal.
The extension of the ceasefire has sparked optimism about easing tensions in the Middle East, contributing to the upward trend in index futures.
Earlier in the day, during regular trading hours, markets took a hit following the breakdown of final negotiations between the U.S. and Iran. The Dow Jones Industrial Average fell 0.59%, the S&P 500 dropped 0.63%, and the Nasdaq Composite declined 0.59%.