(RTTNews) - Slightly higher U.S. futures amid optimism about a U.S.-Iran ceasefire extension point to a positive start on Wall Street on Friday.
The Dow futures are up 0.25%, the S&P futures are up 0.1% and the Nasdaq futures are up marginally.
Oil prices fell to a one-month low amid hopes of smoother oil flows through the Strait of Hormuz.
According to media reports, the U.S. and Iran have reached a temporary agreement to extend their ceasefire by 60 days, resume unrestricted shipments through the Strait of Hormuz and begin negotiations over Tehran's nuclear program.
U.S. President Donald Trump's approval is awaited. If the deal comes through, Iran would not be able to impose tolls on ships transiting the Strait of Hormuz, while the U.S. would gradually lift its sea blockade on Iranian ports.
U.S. stocks recovered from early weakness on Thursday and the major averages ended at new record closing highs. The Dow edged up 0.05%, the S&P 500 climbed 0.58% and the Nasdaq closed 0.91% up.
In overseas trading Asian stocks rose broadly on Friday, with optimism around the resonant AI trade, strong earnings from Dell Technologies, and reports of a proposed 60-day ceasefire extension between the U.S. and Iran.
The major European markets are up in positive territory amid hopes for a U.S.-Iran peace deal following the two nations agreeing in principle to extend their ceasefire by sixty days.
In commodities trading, West Texas Intermediate crude oil futures are down $1.25 or 1.4% at $87.65 a barrel. Gold futures are up $25.00 or 0.55% at $4,557.40 an ounce.
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