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- Dow Jones futures gain as sentiment improved on prospects of a Middle East ceasefire.
- US index futures struggled after Trump issued a Tuesday deadline to Iran, warning of strikes if the Strait of Hormuz stays closed.
- Traders expect the Fed to delay rate cuts, with potential borrowing cost hikes later this year if inflation persists.
Dow Jones futures have recovered daily losses and are trading around 46,660, up by 0.06%, during European hours on Monday, ahead of the regular United States (US) open. Meanwhile, S&P 500 and Nasdaq 100 futures also rebounded and are trading around 6,620 and 24,260, up by 0.03% and 0.17%, respectively, at the time of writing.
US index futures received support as market sentiment improved on prospects for a ceasefire in the Middle East. Reports suggest that the United States (US), Iran, and regional mediators are discussing terms for a potential 45-day ceasefire. However, Bloomberg cited a report from Axios, indicating that the unnamed sources see low chances of a deal being reached within the next 48 hours.
US President Donald Trump, earlier, issued a fresh ultimatum to Iran, warning of strikes on its power plants and other civilian infrastructure if the Strait of Hormuz is not reopened. Trump threatened severe consequences, saying he would bring “hell” to Iran, and set a new deadline for Tuesday at 8 PM Eastern Time. Tehran has rejected the ultimatum and continues attacks on energy assets across the Middle East.
US equities may face challenges as traders are increasingly pricing in the US Federal Reserve (Fed) to delay rate cuts. The possibility of higher borrowing costs also rises later this year if inflation remains persistent. Investors now turn their focus to the latest Federal Open Market Committee (FOMC) Meeting Minutes for clearer signals on the policy path ahead.
