US stock futures climbed on Monday, June 29, 2026, as investors capitalized on lower prices (dip-buying) and responded positively to easing tensions between the United States and Iran. The S&P 500 Index futures rose 0.1% by 7:31 a.m. in New York. This upward movement in futures follows a period of significant market volatility influenced by the ongoing conflict in the Middle East, specifically the Strait of Hormuz, which had previously driven oil prices higher.
The potential for a peace deal between the US and Iran was a major catalyst for the market's optimism. Reports indicated that a temporary ceasefire extension of 60 days had been agreed upon, which would include the reciprocal reopening of the Strait of Hormuz during the first 30 days. This development is part of a multi-stage framework aimed at de-escalating the conflict. The expectation of such a deal contributed to a decline in oil prices, with WTI crude falling over 1% on Friday, easing inflation concerns.
Adding to the positive sentiment were strong corporate earnings. Dell Technologies (DELL) saw its stock surge over 37% in pre-market trading after reporting upbeat first-quarter results and raising its full-year revenue guidance, driven by high demand for AI-related servers. Other tech and semiconductor companies also benefited, with Hewlett Packard Enterprise (HPE) gaining over 17% and Super Micro Computer (SMCI) climbing approximately 10%. Additionally, Okta (OKTA) rose over 7% after exceeding Q1 expectations and boosting its annual outlook, while MongoDB (MDB) also reported better-than-expected Q1 results and increased its annual guidance. This strong corporate performance, particularly in the tech sector, helped to lift investor confidence amidst the geopolitical developments.
