Trump says Iran war is about to end, US stock futures rise

Investing.com—U.S. President Donald Trump said that the one-month war with Iran is almost over, and on the back of the news, U.S. stock index futures continued to rise after a strong rebound in New York on Tuesday evening.

After deep losses in U.S. stocks in March, dip buyers stepped in, and the Wall Street index surged 2.4% on Tuesday to 3.9%, with futures later moving higher.

As of 20:59 U.S. Eastern Time (00:59 Beijing time the next day), S&P 500 index futures were up 0.3% to 6,591.75. Nasdaq 100 index futures rose 0.5% to 24,035.0, and Dow Jones futures increased 0.2% to 46,653.0.

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Trump says U.S. troops will withdraw from Iran in 2–3 weeks

Trump said Tuesday that U.S. troops will withdraw from Iran within two to three weeks, claiming that his goal of weakening Iran’s nuclear ambitions has been achieved and that the U.S. has also carried out a regime change in Tehran.

But Trump also said the United States will not push to reopen the Strait of Hormuz—which is a key shipping lane supplying 20% of the world’s oil consumption.

Earlier Tuesday, he said that countries that did not help the United States and Israel during the attack on Iran could buy oil from the United States, or “take it directly from” Hormuz.

However, the president said that after halting military action in Iran, U.S. gasoline prices would fall, though he did not provide specific details.

Trump will address the nation on the Iran issue on Wednesday at 21:00 U.S. Eastern Time (23:00 Greenwich Mean Time).

Iranian officials are open to the de-escalation of U.S. forces, but they also warned that new maritime rules would be implemented in the Strait of Hormuz. Tehran previously proposed establishing a fee system for shipping passing through the Strait of Hormuz—an initiative that could keep oil prices elevated in the near term.

Reports earlier this week showed that Trump is willing to end the Iran war without reopening the Strait of Hormuz, especially since the conflict appears likely to run beyond his initially set four- to six-week timeline.

Wall Street surges as Iran situation cools and month-end buying kicks in

Wall Street indices responded positively to prospects that the Iran war is nearing an end, putting on a strong month-end rebound, while dip buyers also moved in after being badly hit in March.

On Tuesday, the S&P 500 rose 2.9%, the Nasdaq Composite surged 3.8%, and the Dow Jones Industrial Average increased 2.5%. All three major indices fell 4.8% to 5.5% in March.

Technology stocks led higher on Tuesday, as the sector also saw a large influx of dip buyers after posting sustained losses in March. Technology stocks were hit by doubts about the long-term returns of disruptive artificial-intelligence technologies, and concerns about slowing demand for AI-driven chips also dealt a blow to major chipmakers.

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