Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 5, 2026. <\/p>\n
Brendan McDermid | Reuters<\/p>\n
Stock futures rose on Wednesday following a report that the U.S. and Iran were nearing an agreement<\/a> to end the war.<\/p>\n Futures tied to the Dow Jones Industrial Average<\/a> rose 409 points, or 0.8%. S&P 500 futures<\/a> advanced 0.7%, while Nasdaq 100 futures<\/a> climbed 1.1%. <\/p>\n Axios reported, citing sources, that the U.S. and Iran were getting close to a deal that would bring a resolution to the conflict. According to the report, the agreement would include a moratorium on nuclear enrichment. An Iranian foreign ministry spokesperson also told CNBC that Iran was evaluating a U.S. proposal toward a resolution.<\/p>\n President Donald Trump<\/a> signaled later Wednesday that a deal was not certain, however, saying it was a “perhaps, a big assumption” Iran would agree to the U.S. proposal. Equity futures came off their highs following the post.<\/p>\n “If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before,” the president wrote in a post on Truth Social<\/a>.<\/p>\n Trump also said late Tuesday that he is pausing<\/a> “Project Freedom,” the U.S.’s plan to guide ships<\/a> out of the Strait of Hormuz. In a Truth Social<\/a> post, he cited “the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran,” as a driver behind the decision.<\/p>\n Oil prices plunged as traders pared exposure on hopes the war would end soon. West Texas Intermediate futures<\/a> dropped 10%, trading above $91 per barrel. International Brent<\/a> lost 9% to trade near $100.<\/p>\n Chipmaker Advanced Micro Devices<\/a> added to the gains, soaring 18% after the company issued a rosy outlook for the second quarter<\/a>. AMD also beat expectations on the top and bottom lines in the first quarter. The report lifted the broader chipmaker sector. The VanEck Semiconductor ETF (SMH)<\/a> jumped 3%. Intel<\/a> popped 4%.<\/p>\n Stocks posted strong gains Tuesday, lifted by strong earnings and the ceasefire between Iran and the U.S. remaining in place. <\/p>\n