On February 24, 2026, traders were busy on the New York Stock Exchange as morning trading unfolded.
Following President Donald Trump’s announcement that the U.S. and Iran would engage in talks and halt strikes on Iranian energy facilities, stock futures saw a boost. This development offered investors a glimmer of hope that the escalating conflict in the Middle East— which had caused a spike in oil prices and raised concerns about a global recession—was heading toward resolution.
Specifically, Dow Jones Industrial Average futures jumped by 712 points, or about 1.5%. S&P 500 futures increased by 1.4%, while Nasdaq 100 futures also saw a rise of 1.4%. Before Trump’s remarks, futures markets had hinted at rising oil prices and uncertainties regarding the duration of the Iran conflict, which were contributing to stock market declines.
In the wake of Trump’s announcement, oil prices dropped: West Texas Intermediate futures fell by over 5%, resting at around $93 per barrel, and Brent crude prices plummeted by more than 7% to about $104 per barrel.
Trump expressed optimism, stating, “I am pleased to report that the United States and Iran have engaged in very productive dialogue over the past two days toward resolving hostilities in the region.” He also mentioned that based on the positive tone of these discussions, he had instructed the Army to delay any military actions against Iranian energy facilities for five days, depending on the success of ongoing talks.
This announcement came amid rising tensions as the war with Iran entered its fifth week. Over the weekend, Trump had indicated a 48-hour deadline for attacks on Iranian power plants unless the Strait of Hormuz— a vital shipping route for oil—was reopened. In response, Iran threatened to target U.S. infrastructure, including energy resources in the Gulf.
Jeff Kilberg, CEO of KKM Financial, commented, “Stock markets have finally found a way out of the uncertainty and extreme oversold conditions linked to the Iran conflict. If this becomes a pathway to peace in the Middle East, we could see stocks rebound to all-time highs.”
Before this Monday’s upswing, both the Dow and Nasdaq Composite had dropped nearly 9.8% since their historical peaks, pushing them close to correction territory (a decline of 10%). Meanwhile, the S&P 500 was down 7% from its prior high before this rebound.
During early trading, cyclical sectors such as banks and industrials, alongside technology stocks, experienced significant recoveries. Major firms like JPMorgan Chase and Morgan Stanley each recorded 2% gains in premarket activity, with Caterpillar and Deere also up by 2%. Notably, tech giants like Nvidia and Apple mirrored this upward trend.
In contrast, energy stocks struggled, with Exxon Mobil and Chevron both experiencing declines.
The previous week had seen the Dow and Nasdaq fall by approximately 2%, while the S&P 500 pushed downward by 1.5%, as ongoing tensions related to the Iran conflict loomed heavy over the market. This marked the Dow’s first four-week losing streak since 2023.
