United States stock futures traded mixed on Monday night (Tuesday AEST) as investors assessed ongoing ceasefire negotiations ahead of a key deadline for Iran to reopen the Strait of Hormuz.
By 8:35 am AEST (10:35 pm GMT), futures tied to the Dow Jones Industrial Average ticked up 0.1%, while S&P 500 futures edged 0.1% lower and Nasdaq-100 futures slipped 0.2%.
The muted moves followed a positive session on Wall Street, where the S&P 500 rose 0.4%, and the Nasdaq Composite gained 0.5%. The Dow Jones Industrial Average also advanced 0.4%.
Focus remains firmly on developments in the Middle East, with U.S. President Donald Trump reiterating that Washington will target Iran’s infrastructure if the Strait is not reopened by the deadline.
Trump confirmed that the deadline had been extended to Tuesday, citing timing concerns around the Easter holiday.
“They have ’til tomorrow,” the president said. “Now we’ll see what happens. I can tell you, they’re negotiating, we think in good faith, we’re going to find out. We’re getting the help of some incredible countries that want this to be ended, because it affects them also.”
Diplomatic efforts appear to be intensifying, with multiple proposals under consideration. Reports indicate that U.S., Iranian and regional mediators are discussing terms for a potential 45-day ceasefire that could pave the way for a permanent end to the conflict.
Separately, both sides are said to be reviewing a framework brokered by Pakistan that could bring an immediate halt to hostilities if agreed.
Analysts at ANZ cautioned that tensions on the ground continue to escalate despite diplomatic efforts.
"Tehran’s Foreign Ministry said a temporary ceasefire would merely create “a short pause to regroup and commit crimes again”. Missile and drone attacks on energy infrastructure across the Persian Gulf have continued, including in Kuwait, Bahrain and the UAE. The conflict intensified after U.S. forces carried out a major rescue operation to extract a downed U.S. pilot from Iran, underscoring the risk of further military escalation."
