Stock Futures Rise as US-Iran Tensions Ease Ahead of Jobs Data

Markets opened the holiday-shortened week with gains in equity futures after reports that the United States and Iran would pause hostilities and resume talks. The move followed weekend strikes and countered last week’s selloff in technology shares.

Nasdaq 100 futures climbed 1.2 percent, S&P 500 futures added 0.8 percent, and Dow Jones Industrial Average proxies rose about 0.4 percent in early trading, according to multiple market reports. Brent crude traded up 0.6 percent near $73 a barrel while West Texas Intermediate held just below $70.

The relief came against a backdrop of unresolved questions. A Deutsche Bank note warned that policy volatility would likely persist even after any pause in fighting. Traders also faced Thursday’s June employment report, moved forward because of the July 4 holiday, and continued scrutiny of Federal Reserve rate expectations.

Corporate developments added separate layers. Charter Communications surged nearly 20 percent on a reported partnership discussion with SpaceX. Comcast shares jumped 25 percent after the company announced plans to spin off its media and technology businesses. Verizon projected quarterly losses of $700 million to $800 million tied to accounting changes for a joint venture.

Oil prices remained sensitive to any sign of renewed disruption in the Strait of Hormuz. Asian benchmarks closed mixed, with South Korea’s Kospi recovering most of an early 3.4 percent drop. European indexes opened with little net change.

The week’s price action therefore hinges on two open variables: whether the reported de-escalation holds and what the jobs data reveal about labor-market strength and inflation pressure.