TLDR
- US stock futures turned higher Wednesday after reports Iran reached out to the US via intelligence channels to discuss ending the conflict
- The Dow, S&P 500, and Nasdaq had all closed sharply lower on Tuesday before the news broke
- Iran’s Ministry of Intelligence reportedly contacted the CIA through a third country’s spy agency
- Oil prices pulled back over 2% on the news, with Brent crude near $82 a barrel
- Bitcoin surged above $70,000 as crypto appeared to defy broader geopolitical risk fears
US stock futures reversed course Wednesday morning after a report said Iran had made a quiet approach to the United States to discuss ending the ongoing conflict. The news came after a rough Tuesday session that sent the Dow down 400 points.
Futures tracking the Dow climbed 106 points, or 0.2%. S&P 500 futures rose 0.3%, and Nasdaq contracts added 0.4%.
The conflict entered its fifth day Wednesday. Israel carried out fresh strikes on Tehran as Iran awaited the funeral of Supreme Leader Ali Khamenei, who was killed in weekend attacks.
BREAKING: US stock market futures surge as the New York Times reports that Iran made a "secret" offer to the US to negotiate a deal to end the war.
Potential terms include:
1. Iran to abandon or drastically curtail its ballistic missile and nuclear programs
2. Iran to abandon… https://t.co/IsF3saWl1A
— The Kobeissi Letter (@KobeissiLetter) March 4, 2026
The New York Times reported that Iran’s Ministry of Intelligence contacted the CIA through another country’s spy agency. The message signaled Iran was open to talks to end the fighting.
US officials were said to be unconvinced by the outreach. Analysts also downplayed it, noting the approach came very early in the conflict.
Oil and Safe-Haven Assets React
Oil prices had been up about 3% before the report. After news of the Iran contact broke, Brent crude futures pulled back and were trading near $82 a barrel. West Texas Intermediate was near $74.50 a barrel.
President Trump had said Tuesday that the US would provide insurance and escorts for oil tankers through the Strait of Hormuz. Iran had threatened to disrupt traffic through the key shipping lane.
Rising oil prices had raised concerns about inflation. Higher inflation could limit the Federal Reserve’s ability to cut interest rates.
Gold futures rose 1.7% to $5,210 an ounce as investors moved into safe-haven assets. The dollar slipped 0.3% against a basket of currencies after gaining 1.5% over the previous two days.
The 10-year Treasury yield climbed 2 basis points to 4.09%.
Bitcoin Climbs Above $70,000
Bitcoin pushed above $70,000 during Wednesday trading, defying the broader risk-off mood that had gripped markets. Crypto appeared to be tracking differently from equities during the geopolitical tension.
South Korea’s main stock benchmark posted its biggest one-day drop on record amid the conflict fears.
Earnings reports from Broadcom, Costco, and Alibaba are expected later in the week. Investors were also watching for an ADP private payrolls report Wednesday, ahead of Friday’s monthly jobs data.
Defense Secretary Pete Hegseth and Chairman of the Joint Chiefs Gen. Dan Caine were scheduled to hold a press conference from the Pentagon at 8 a.m. Eastern time Wednesday.
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