Pre-Market Update: S&P 500 Futures Flat as Iran Peace Talks Progress, Nasdaq Eyes 11th Straight Gain

TLDR

• Stock futures are flat Wednesday after a strong Tuesday rally
• The Nasdaq has risen for 10 straight sessions, its longest streak since November 2021
• The S&P 500 sits just 0.2% below an all-time record high
• Trump said the Iran conflict is “close to over,” boosting investor confidence
• Bank of America and Morgan Stanley are reporting earnings Wednesday morning

U.S. stock futures drifted near the flat line on Wednesday morning. This came after a strong run that has pushed major indexes close to record territory.

Futures on the S&P 500, Dow Jones Industrial Average, and Nasdaq 100 were all little changed before the opening bell. Markets appeared to be taking a pause after several days of strong gains.

The Nasdaq Composite has now risen for 10 straight sessions. That is its longest winning streak since November 2021.

The S&P 500 closed Tuesday just 0.2% below its all-time high. The index has posted gains in nine of the past 10 trading sessions.

The recent rally has been driven largely by optimism around a potential end to the U.S.-Iran conflict. Investors have grown more confident that a peace deal is close.

President Trump added to that optimism late Tuesday. In an interview with Fox Business, he said the war in the Middle East was “close to over.”

Trump also told reporters that peace talks could restart within two days. He suggested an extension of the current two-week ceasefire may not be needed.

Analysts say markets will be watching closely for any signs of progress in those talks. Continued movement toward peace could push stocks to fresh record highs.

Oil prices were slightly higher Wednesday morning. Brent crude futures rose 0.4% to $95.11 a barrel, while West Texas Intermediate was up 0.2% to $91.27 a barrel.

A pullback in oil prices from recent highs could help ease inflation concerns. That would be seen as a positive for risk assets broadly.

The dollar was flat against a basket of major currencies. The yield on the 10-year Treasury note held steady at 4.25%.

Earnings in Focus

Attention is also turning to corporate earnings. Bank of America and Morgan Stanley are both scheduled to report results Wednesday morning.

Financial sector earnings have been closely watched this season. Results from major banks could give investors a clearer picture of the economy’s health.

What to Watch

Markets are waiting for fresh signals on the Iran situation. Any confirmed progress in peace talks could be the catalyst that drives stocks to a new all-time high.

The S&P 500 sits just a fraction below its late-January peak. One more strong session could push it into record territory.

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