US pre-open: Futures surge after Trump hints at 'very good' talks with Iran

23rd Mar 2026 09:39

(Sharecast News) - US stocks were set to surge on Monday morning after hitting a six-month low the previous session after president Donald Trump signalled he had held "very good" talks with Iran, raising hopes that an end to the conflict in the Middle East could be within sight.

The weekend saw further signs of an escalation in the conflict between the US and Iran with Trump warning on Saturday about further attacks to Iranian energy infrastructure if the Straits of Hormuz aren't reopened within 48 hours. Iran also threatened on Sunday to "irreversibly destroy" energy infrastructure across the Middle East.

However, the president said on Monday that the US was postponing "any and all" military strikes against Iranian energy infrastructure following "very good and productive conversations" about a resolution to the hostilities.

Writing on Truth Social, Trump said: "Based on the tenor and tone of these in depth, detailed and constructive conversations, which will continue throughout the week, I have instructed the department of war to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five day period, subject to the success of the ongoing meetings and discussions."

Stock futures were pointing to gains of between 2.3% and 2.5% across all three Wall Street benchmarks in pre-market trade, while European markets erased hefty losses to push higher by lunchtime. The S&P 500 in particular has dropped more than 5.4% over March alone, falling to its lowest since 8 September on Friday.

Meanwhile, oil prices tumbled after Trump's comments, with Brent crude down 8.5% at $102.71 a barrel and West Texas Intermediate 8.2% lower at $90.16.

In economic data on Monday, investors will be looking out for the Chicago Fed National Activity Index due at 1230 GMT, while US construction spending data will be out at 1400 GMT - though neither of these releases tends to be market-moving.