Stock Market Update

The S&P 500 futures currently trade 51 points above fair value. 

Recent commentary from President Trump has added to this morning's early optimism, with the president writing on Truth Social, "The United States of America is in serious discussions with A NEW, AND MORE REASONABLE, REGIME to end our Military Operations in Iran." It is worth noting that those comments were accompanied by a threat to destroy Iran's energy infrastructure if a deal is not struck soon and the Strait of Hormuz remains closed.

While the reaction in equity futures certainly does not suggest the market is expecting a clear and imminent end to the war, the latest commentary helps prime the market for a modest bounce after a particularly weak session on Friday.