Stocks open higher on hope Iran deal is near, relentless Micron and tech rally: Live updates
The S&P 500 climbed 0.9% last week to notch its longest weekly winning streak since late 2023.
AI Summary
Stock futures rose sharply Tuesday as oil prices declined on optimism that U.S.-Iran negotiations could reach resolution, with President Trump indicating talks were "proceeding nicely." The S&P 500 achieved its longest weekly winning streak since late 2023 with a 0.9% gain last week, supported by strong projected earnings growth of 23% this year and falling crude prices. However, trader expectations for Federal Reserve rate cuts have cooled, with pricing for a July rate hike rising to 8.5% from 0.9% a month ago, as oil remains elevated compared to earlier in the year.