2026.03.3102:49:55UTC+00US Futures Jump on Trump Report

US stock futures rose nearly 1% on Tuesday following reports that President Donald Trump told aides he is prepared to halt the US military campaign against Iran even if the Strait of Hormuz remains largely closed — a move that could effectively enhance Tehran’s control over the key shipping lane. Markets also continued to parse dovish remarks from Federal Reserve Chair Jerome Powell, who reiterated that long-term US inflation expectations remain well anchored despite escalating tensions in the Middle East, and emphasized that the Fed’s current policy stance gives officials room to evaluate the economic fallout from the war in Iran.

In Monday’s regular session, the Dow inched up 0.11%, while the S&P 500 and Nasdaq Composite fell 0.39% and 0.73%, respectively. The S&P 500 is now approaching correction territory, sitting 9.4% below its January peak. The Dow and Nasdaq Composite are down 10.5% and 13.4% from their recent highs. Investors are now looking ahead to the release of March’s consumer confidence index and February’s JOLTS job openings data.