FX.co ★ US Futures Rebound from 1-Month Low

US equity futures rebounded from a one-month low after Washington signaled it had concluded its strikes against Iran, in a move seen as clearing the way for renewed negotiations. Futures tied to the S&P 500, Dow Jones Industrial Average, and Nasdaq 100 were up around 1%.

President Trump said US retaliatory strikes would cease as long as Iran refrained from further escalation, adding that both countries remained close to an agreement that could pave the way for a resumption of energy exports through the Persian Gulf. The earlier suspension of oil flows from the region had pushed CPI inflation to a three-year high in May, and upcoming data are expected to show PPI inflation at more than a three-year high, reinforcing expectations of a Federal Reserve rate hike.

Equities were broadly higher, with Nvidia gaining 1% in premarket trading. AI infrastructure names extended their strong rally, as tomorrow’s SpaceX IPO highlights how hyperscalers are ramping up spending on compute capacity. However, Oracle dropped 8.5% after announcing it would take on additional debt to finance data centers, despite reporting flat sales.