Equity Futures: Rise on US-Iran Hormuz Deal Progress

Equity futures climbed after the US and Iran both pushed for revisions to a draft ceasefire extension that would reopen the Strait of Hormuz. Brent crude reached its highest level in six weeks, lifting 10-year Treasuries. Tech stocks advanced on AI momentum, with $MU surging 3.7 percent and Samsung jumping 10.3 percent. $NVDA gained 1.8 percent pre-market ahead of its RTX Sparkchip PC launch this fall. The $SPCX $75 billion IPO moved closer to launch, targeting $20-25 billion from retail buyers. $TSLA slipped 1.5 percent to $429 pre-market on dilution concerns tied to a potential merger with SPCX. Friday’s May jobs report now takes center stage ahead of the June Fed meeting.