{"id":126761,"date":"2026-05-06T13:40:00","date_gmt":"2026-05-06T09:40:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=126761"},"modified":"2026-05-06T14:57:09","modified_gmt":"2026-05-06T10:57:09","slug":"wall-street-futures-soar-on-iran-deal-bombshell-amd-rockets-15-as-oil-crashes-7-on-peace-hopes","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/wall-street-futures-soar-on-iran-deal-bombshell-amd-rockets-15-as-oil-crashes-7-on-peace-hopes\/05\/06\/market-updates\/","title":{"rendered":"Wall Street Futures Soar on Iran Deal Bombshell: AMD Rockets 15% as Oil Crashes 7% on Peace Hopes"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Futures rally:<\/strong> S&amp;P 500 futures rose 0.6%, Nasdaq 100 futures jumped 1.2%, and Dow Jones futures gained 0.6% \u2014 building on Tuesday&#8217;s record highs.<\/li>\n\n\n\n<li><strong>One-page deal looms:<\/strong> The White House believes it is nearing a memorandum of understanding with Iran to end the war, per Axios citing two U.S. officials.<\/li>\n\n\n\n<li><strong>48-hour deadline:<\/strong> Tehran is expected to respond on several major points within the next two days.<\/li>\n\n\n\n<li><strong>Closest yet:<\/strong> This represents the closest both sides have come to ending the conflict since fighting erupted in late February.<\/li>\n\n\n\n<li><strong>Deal framework:<\/strong> Iran would commit to a nuclear enrichment moratorium; the U.S. would lift sanctions and release frozen Iranian funds, while Hormuz restrictions would end.<\/li>\n\n\n\n<li><strong>Oil crashes:<\/strong> Brent crude tumbled 7.4% to $101.69 per barrel, while WTI plunged 7.9% to $94.15.<\/li>\n\n\n\n<li><strong>AMD blowout:<\/strong> Shares rocketed over 15% after the chipmaker delivered stronger-than-expected Q1 earnings and an upbeat current-quarter outlook.<\/li>\n\n\n\n<li><strong>AI tailwind:<\/strong> Like Nvidia, AMD continues to benefit from outsized AI industry demand.<\/li>\n\n\n\n<li><strong>Big earnings ahead:<\/strong> Arm Holdings, Disney, and Uber report Wednesday; McDonald&#8217;s, Gilead, and McKesson on Thursday.<\/li>\n\n\n\n<li><strong>Jobs data Friday:<\/strong> April nonfarm payrolls will be the week&#8217;s biggest economic release.<\/li>\n<\/ul>\n\n\n\n<p>U.S. stock index futures extended gains on Wednesday, amid fresh hopes that the United States and Iran may be edging toward a deal to bring the war in the Middle East to a close.<\/p>\n\n\n\n<p>The White House believes it is nearing a deal with Iran on a one-page memorandum of understanding to end the war in the Middle East, Axios reported. Citing two U.S. officials, the report said the document would lay out a framework for more detailed nuclear negotiations.<\/p>\n\n\n\n<p>Washington expects Tehran to respond on several major points within the next 48 hours, according to the report. It added that while nothing had yet been formally agreed, this was the closest both sides have come to concluding the conflict since the outbreak of fighting in late February.<\/p>\n\n\n\n<p>A potential deal would see Iran commit to a moratorium on nuclear enrichment, while the United States would agree to remove sanctions and release billions of dollars in currently frozen Iranian funds. Restrictions on the Strait of Hormuz would also be lifted to once again allow transit through the chokepoint, Axios reported.<\/p>\n\n\n\n<p>Earlier, President Donald Trump announced a pause in an operation aimed at reopening the Strait of Hormuz, and said progress was being made on an agreement with Iran.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Markets Cheer the Diplomatic Breakthrough<\/h2>\n\n\n\n<p>S&amp;P 500 Futures rose 45 points, or 0.6%, by 05:27 ET (09:27 GMT). Nasdaq 100 Futures gained 327 points, or 1.2%, and Dow Jones Futures jumped 296 points, or 0.6%. Wall Street hit fresh record highs on Tuesday.<\/p>\n\n\n\n<p>Oil prices also retreated sharply, with Brent crude futures \u2014 the global benchmark \u2014 sinking 7.4% to $101.69 a barrel. U.S. West Texas Intermediate crude meanwhile slipped 7.9% to $94.15 a barrel.<\/p>\n\n\n\n<p>Both contracts, however, remain well above pre-war levels. The spike has fueled concerns over inflationary pressures in countries around the world and the prospect of slowing global growth.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">AMD Surges on Bumper Profits<\/h2>\n\n\n\n<p>AMD was a standout in aftermarket trading, rallying over 15% after the NVIDIA Corporation rival posted stronger-than-expected first-quarter earnings and presented an upbeat outlook for the current quarter.<\/p>\n\n\n\n<p>Like Nvidia, the chipmaker has benefited greatly from outsized demand in the AI industry.<\/p>\n\n\n\n<p>A host of other key earnings are due in the coming days, with chip designer Arm Holdings, media giant Walt Disney Company, and ride-hailing major Uber Technologies Inc set to report on Wednesday.<\/p>\n\n\n\n<p>McDonald&#8217;s Corporation, Gilead Sciences Inc, and McKesson Corporation will report on Thursday, while beyond earnings, nonfarm payrolls data for April is due on Friday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Futures rally: S&amp;P 500 futures rose 0.6%, Nasdaq 100 futures jumped 1.2%, and Dow Jones futures gained 0.6% \u2014 building on Tuesday&#8217;s record highs. One-page deal looms: The White House believes it is nearing a memorandum of understanding with Iran to end the war, per Axios citing two U.S. officials. 48-hour deadline: Tehran &hellip;<\/p>\n","protected":false},"author":9,"featured_media":82387,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,37,36],"tags":[],"class_list":["post-126761","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=126761"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126761\/revisions"}],"predecessor-version":[{"id":126762,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126761\/revisions\/126762"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/82387"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=126761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=126761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=126761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}