Stock market today: S&P 500 and Dow futures rise as Trump announces Iran ceasefire; SoFi, Uber, and Levi Strauss in focus

U.S. stocks rose on Wednesday after a mixed close on Tuesday, with futures for major benchmark indexes climbing following President Donald Trump’s announcement of a two-week ceasefire in Iran strikes.

On Tuesday, Trump said the United States had achieved a “total and complete victory” after striking a two-week ceasefire deal with Iran, suggesting confidence that the truce could lead to a broader agreement, even as key questions remained unresolved.

Rates, Treasury yields and Fed expectations

Bond market pricing showed the 10-year Treasury yield at around 4.24% and the two-year yield at around 3.71%. The CME Group FedWatch tool implied a 98.4% probability that the Federal Reserve will keep rates unchanged at its April meeting.

Early market moves

In early trading, major indexes including the Dow Jones, S&P 500, Nasdaq, and Russell 2000 posted gains.

Stocks in focus

• SoFi Technologies (SOFI) rose about 8.38% after launching large-scale business banking to support fiat and crypto banking on a single regulated platform.
• Uber Technologies (UBER) gained about 4.15% as it scaled on Amazon.com’s AWS to power millions of daily trips and train its AI models.
• Alibaba Group Holding (BABA) advanced about 7.58% after deploying a 10,000-chip AI cluster in China, aimed at strengthening domestic semiconductor capabilities and accelerating its integrated AI ecosystem strategy.
• Levi Strauss & Co. (LEVI) surged about 10.13% after reporting first-quarter revenue of $1.74 billion, above analyst estimates of $1.65 billion. The company also posted adjusted earnings of 42 cents per share versus estimates of 37 cents per share.
• Paramount Skydance (PSKY) rose about 3.58% after receiving a $24 billion equity commitment from Middle Eastern sovereign wealth funds and increasing authorized Class B shares to 7 billion, enabling the board to declare dividends independently of Class A stock.

Sector performance from Tuesday

On Tuesday, consumer discretionary, energy, and information technology stocks posted the largest gains, with half of the S&P 500 sectors finishing higher. Consumer staples, consumer discretionary, and materials were among the decliners.

Analyst perspective

Professor Jeremy Siegel maintained a “Long-Term Bullish, Near-Term Cautious” outlook for the U.S. economy and stock market. He said the economy remains structurally strong and resilient, but warned the outlook is likely to be “bumpier until we see a lasting and real break in the geopolitical pressures,” despite the temporary two-week truce.

Upcoming economic and policy events

San Francisco Fed President Mary Daly is scheduled to speak at 1:05 p.m. ET, and minutes from the Fed’s May FOMC meeting are expected to be released by 2:00 p.m. ET.

Commodities, crypto and global markets

In early New York trading, crude oil futures were down 15.30% to around $95.67 per barrel. Gold Spot US Dollar rose 1.84% to about $4,792.64 per ounce, while the U.S. Dollar Index spot fell 0.99% to 98.8710.

Bitcoin was up 4.13% over the last 24 hours to $71,683.27 per coin.

Asian markets closed higher, including Hong Kong’s Hang Seng, China’s CSI 300, Australia’s ASX 200, India’s Nifty 50, South Korea’s Kospi, and Japan’s Nikkei 225. European markets were also higher in early trade.