U.S. stock index futures rise on Gulf peace prospects

S&P 500 Futures advanced 0.2% to 7,408.50 points, Nasdaq 100 Futures added 0.3% to 29,542.0 points, while Dow Jones Futures advanced 0.1% to 50,933.0 points

U.S. stock index futures rose on Thursday evening after President Donald Trump said an Iran peace deal had been reached and was set to be signed soon, sparking strong gains on stock market.

Focus also turned to SpaceX’s trading debut on Friday, after the firm raised $75 billion in the biggest ever initial public offering.

S&P 500 Futures advanced 0.2% to 7,408.50 points by 23:14 GMT. Nasdaq 100 Futures added 0.3% to 29,542.0 points, while Dow Jones Futures advanced 0.1% to 50,933.0 points.

Futures advanced after a strong session on stock market, with the S&P 500, Dow Jones Industrial Average and NASDAQ Composite rising between 1.7% and 2.6%.

Tech shares were the best performers, with chipmaking stocks rebounding further from bruising losses clocked last week. Optimism over artificial intelligence largely remained in play for the sector.

U.S. president said on Thursday that a deal with Iran had been reached, and that a final document could be signed in Europe soon, potentially over the weekend.

The president had earlier in the day backtracked on new attacks he had talked about against Iran, stating that the Strait of Hormuz would immediately reopen and the U.S. would halt its blockade of Iran.

This came amid a host of media reports that U.S. and Iran had carried out more talks over a potential peace deal.

Trump’s comments on a deal– which he has made several times in the past– helped spur some hopes for a cooling in heightened tensions in the Middle East, after Iran and U.S. traded airstrikes several times over the past week.

Concerns over the war’s inflationary impact also eased slightly on Thursday after core producer price index inflation data read softer than expected for May.