U.S. stock index futures pushed toward all-time highs on Tuesday, fueled by signs of progress in U.S.-Iran nuclear negotiations and a continued rally in semiconductor shares. The upbeat mood on Wall Street overshadowed persistent volatility in oil markets, with investors betting that de-escalation in the Middle East could remove a key headwind for risk assets.
Nasdaq 100 and S&P 500 futures both climbed, with the tech-heavy Nasdaq-100 E-mini adding nearly 200 points to trade around 29,758. Dow Jones Industrial Average futures rose 255 points, or 0.51%. The advance put major indices on track to extend last week's record closes.
The primary catalyst was the potential for a breakthrough in talks between Washington and Tehran. U.S. Secretary of State Marco Rubio said a deal could be reached “in a few days,” while President Donald Trump described the discussions as going “nicely.” The proposed agreement includes a ceasefire extension and the reopening of the Strait of Hormuz, a critical chokepoint for global oil shipments.
Oil prices remained volatile, with Brent crude spiking as much as 3% amid lingering supply concerns. However, futures markets suggested that the broader risk appetite had not been derailed. A sustained spike in energy costs could complicate the Federal Reserve’s inflation outlook, potentially delaying rate cuts and weighing on equity valuations—especially in growth sectors. For now, traders appeared to focus on the positive diplomatic signals.
AI-linked chipmakers were another major driver. Marvell Technology surged 5.7% in premarket trading, while Micron and Intel gained around 2%. The semiconductor sector has been a pillar of the equity rally, with investors betting that AI-related spending will support revenue expansion across the supply chain.
While corporate earnings and Fed policy remain key risks, the immediate tone was decidedly bullish. The combination of easing geopolitical jitters and AI momentum provided a powerful tailwind, lifting futures to within striking distance of fresh records.
