Nasdaq tech leads strong Wall Street rebound after Iran ceasefire deal Last updated: 09:56 08 Apr 2026 EDT, First published: 07:59 08 Apr 2026 EDT
9.55am: Rocket open Wall Street stocks have opened firmly higher, led by the Nasdaq, gaining 2.9% and the small cap Russell 2000, with a 3.45% jump.
The blue chip Dow Jones started up 2.8%, while the S&P 500 rose 2.3%.
Gains on the Nasdaq 100 were driven by semiconductor and tech stocks, with Western Digital, Lam Research, Axon Enterprise and ASML all up around 9%, alongside strength in Micron, Applied Materials and KLA.
Among the Mag 7 giants, moves were broadly positive, with Meta Platforms up almost 5%, Alphabet rising around 4%, Amazon up nearly 4% and Microsoft and Nvidia also higher, while Apple lagged with a more modest gain of around 1%.
8am: Tech stocks to lead surge after US-Iran ceasefire deal US stocks are set for a sharply higher open on Wednesday, with futures pointing to strong gains after easing tensions in the Middle East lifted sentiment.
Nasdaq futures led the move, up 3.5%, while the Dow Jones and S&P 500 were both called 2.8% higher.
In the previous session, the Nasdaq and S&P had both edged up around 0.1%, while the Dow had dipped 0.2% on tentative hopes for diplomatic progress in the Gulf.
Then, around two hours before his 8pm EST deadline, Donald Trump announced that a two-week ceasefire deal had been agreed between the US and Iran.
The US President posted that the deal was “subject to the Islamic Republic of Iran agreeing to the complete, immediate, and safe reopening of the Strait of Hormuz”.
Iran's foreign minister said the country's forces will “cease their defensive operations” if attacks stop and that "safe passage" through the Strait would be possible for two weeks.
Trump said that a 10-point proposal had been received from Tehran that was a "workable basis on which to negotiate" towards a more durable peace agreement.
US WTI crude oil futures fell over 17% to $93.25 a barrel, with Brent crude down over 15%.
Metals prices bounced, with gold, silver and copper all climbing.
Shipping has resumed through the Strait of Hormuz, with maritime data confirming early vessel movements returning to the key route for global oil and gas flows, further easing concerns over supply disruption.
Lower geopolitical risk has improved confidence across equities, with growth-focused names expected to lead early gains, reflected in the stronger move in Nasdaq futures.
Asian and European markets surged, with Japan's Nikkei and India’s Sensex gaining 5.4% and 4%, while the DAX jumped 5.3% in Germany and the FTSE 100 climbed 3.1% in London.
Market analyst Kenny Polcari was one of many who thought that while Trump's threats were "dramatic (and stupid)" he had a history of making "bellicose statements before...It’s his style – maximum pressure and maximum drama".
He said the ceasefire is "only a first step, but it is a step and there is much more to come".
As for markets, he said the early strength was being seen in tech and small and mid-caps "as investors breathe a bit easier after the ceasefire headlines", with tech having "become oversold in the recent pullback, pushing valuations in many names back toward more attractive levels".