Stock futures rise after Trump says Iran-Israel ceasefire is in effect: Live updates

Stock futures rose early Tuesday after President Donald Trump said that the ceasefire between Israel and Iran which was announced by him earlier had come into effect.

“THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT!” Trump said in a post on Truth Social around 1:00 a.m. stateside.

Futures tied to the Dow Jones Industrial Average added 291 points, or 0.68%. S&P 500 futures gained 0.79%, while Nasdaq 100 futures rose 1.06%. Stock futures took a leg higher after President Donald Trump announced on Truth Social a ceasefire timeline that he said would end the conflict between Iran and Israel. Brent crude futures and West Texas Intermediate futures were also down in extended trading, slipping more than 3%.

The three major averages rose in the regular session as investors appeared to look past Iran's retaliatory strike on a U.S. military base in Qatar. Qatar's Defense Ministry said that its air defense had intercepted the attack. The Dow rose nearly 375 points, while the S&P 500 added 0.96%. The Nasdaq Composite gained 0.94%.

No casualties were reported from Monday's incident. This attack was in retaliation for the United States striking nuclear development facilities in Iran on Saturday.

Stocks also caught a tailwind from falling oil prices on Monday. WTI futures reached their highest levels since January overnight, but settled down more than 7%.

“We probably built as much as a $15 to $20 per barrel premium in oil over the last week versus where we were trading pre-Israel, Iran. And we're now in the process of eliminating that,” said Veriten's Arjun Murti on CNBC's “Closing Bell: Overtime” on Monday. “I think the market is saying, 'Hey, it looks like the worst of this turmoil is behind us.' If we are on track to avoid a bigger war, that is unquestionably good news.”

On Tuesday morning, traders will watch Federal Reserve Chairman Jerome Powell as he speaks before the House Financial Services Committee and presents the central bank's monetary policy report. The central bank chief will go before the Senate Banking Committee on Wednesday.

Powell's appearance on Capitol Hill comes at a pivotal time: He is facing an aggressive push from the White House to cut rates — and in recent days two Fed officials have said they could see a case for dialing back policy as early as July.

On the economic release front, traders will also watch out for home price data and June's consumer confidence reading.

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Energy was the only sector to end Monday negative

The energy sector fell 2.51% on Monday, making it the only one to end the session negative. Oil prices fell as investors appeared to look past a retaliatory strike from Iran on a U.S. military base in Qatar.

All of the 10 other sectors rose on Monday, led by consumer discretionary, which added 1.75%.

The consumer discretionary, energy, materials and health care sectors all remain more than 10% off their 52-week highs.

Stock futures rise after Trump announces ceasefire timeline between Israel and Iran

Stock futures took a leg higher after President Donald Trump took to social media to announce a ceasefire timeline he said will begin around midnight Tuesday and end the war between Israel and Iran.

“It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now, when Israel and Iran have wound down and completed their in progress, final missions!), for 12 hours, at which point the War will be considered, ENDED!” the president wrote in a Truth Social post. “On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, 'THE 12 DAY WAR.'”

Representatives for Israel and Iran did not immediately appear to confirm the agreement.

Prior to Trump's announcement, stock futures had been trading around the flatline.

Stocks making the biggest moves after the bell: KB Home, Chewy

These are the stocks moving the most in extended-hours trading:

• KB Home — The homebuilding stock slipped 2% after KB Home lowered its full-year housing revenues guidance to the range of between $6.3 billion to $6.5 billion. Previously, the company had predicted a range of between $6.6 billion to $7 billion. Shares fell despite KB Home posting a second-quarter earnings and revenue beat.
• Chewy — Shares fell 3% after the pet food and products retailer announced an underwritten public offering of $1 billion of its Class A common stock through JPMorgan. Concurrently, Chewy also agreed to a $100 million share repurchase program.

Stock futures are little changed

Stock futures traded near flat Monday night.

Futures tied to all three major averages were trading around the flatline shortly after 6 p.m. ET.