TLDR
- Dow futures rose 301 points (0.6%), with S&P 500 and Nasdaq futures also gaining in premarket trading
- U.S.-Iran ceasefire expires Wednesday; Iran signaled it may send a team to Pakistan for talks
- Apple CEO Tim Cook is stepping down, with hardware chief John Ternus set to take over
- Bitcoin climbed toward $76,000, helped by a large Strategy purchase
- Fed chair nominee Kevin Warsh faces Senate confirmation hearing Tuesday; no firm rate cut signals expected
Stock futures moved higher Tuesday morning as investors tracked developments in U.S.-Iran ceasefire negotiations and processed a leadership change at Apple.
Dow Jones Industrial Average futures climbed 301 points, or 0.6%. S&P 500 futures gained 0.3% and Nasdaq 100 futures rose 0.4%. The gains came after all three major indexes fell Monday, snapping a strong recent rally.
The current ceasefire between the U.S. and Iran is set to expire late Wednesday. President Trump said U.S. negotiators are ready to travel to Pakistan to resume talks. Iran indicated it would send a negotiating team, though it had not publicly confirmed attendance as of Tuesday morning.
“The working assumption for most market participants is that we see an extension of the current ceasefire,” said Michael Brown, strategist at Pepperstone.
Oil prices fell on those hopes. Brent crude slipped 0.5% to $95.02 a barrel. West Texas Intermediate fell 0.6% to $86.87 a barrel. Easing tensions could reduce disruption to cargo moving through the Strait of Hormuz.
Gold dropped 0.6% to $4,801 an ounce. The dollar edged up 0.1% against a basket of currencies. The 10-year Treasury yield held steady at 4.26%.
Apple Leadership Change Weighs on Stock
Apple said Monday that Tim Cook would step down as CEO. John Ternus, who heads hardware engineering, will take over. Apple shares fell 0.5% in premarket trading following the announcement.
Wall Street is also watching Kevin Warsh, Trump’s pick to lead the Federal Reserve. Warsh is set to appear before the Senate Banking Committee Tuesday. In prepared remarks, he offered no firm guidance on interest rates. Investors are currently leaning toward no rate cuts in 2026.
Retail sales data for March is due later Tuesday, which will give a clearer picture of consumer spending as Middle East tensions escalated.
Bitcoin Climbs Toward $76,000
Bitcoin rose toward $76,000 Tuesday, supported by a large purchase from Strategy, the business intelligence firm known for its aggressive Bitcoin buying strategy. The move helped lift broader crypto markets.
United Airlines is also reporting earnings Tuesday. Analysts will be watching for how rising fuel costs, driven by Middle East conflict, affected the carrier’s results.
The Nasdaq snapped its longest winning streak since 1992 on Monday. Both the S&P 500 and Nasdaq Composite had recently hit record highs before the pullback.
Warsh’s Senate hearing is expected to be a key event for markets Tuesday, with investors looking for any signals on the Fed’s direction under a new chair.
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