[US Pre-Market] US-Iran Deal Ignites Risk Appetite. Three Major Futures Rise, AI Chip Stocks Rebound, SpaceX Rises Over 7%

TradingKey - U.S. stock index futures rose collectively in pre-market trading Monday as market risk appetite recovered significantly. News of a temporary peace agreement between the U.S. and Iran and the potential reopening of the Strait of Hormuz have become the core variable for global markets today. Driven by cooling geopolitical risks, international oil prices fell sharply, easing inflation concerns, while tech stocks, AI chip stocks, and airline stocks generally trended higher. As of press time, Dow futures rose 0.91%, S&P 500 futures rose 1.31%, and Nasdaq 100 futures jumped 2.18%.

Performance of U.S. stock index futures, Source: Investing

In commodities, WTI ( USOIL) crude and Brent crude both slumped, with WTI dropping over 5% intraday and Brent falling over 4%; Gold ( XAUUSD) prices rose about 3%, trading near $4,340.

In cryptocurrencies, Bitcoin ( BTC) climbed above $66,000, up 0.79% on the day. Crypto stocks rose in tandem, with Coinbase ( COIN) rose over 5%, and MicroStrategy ( MSTR) rose over 6%.

Unusual Market Activity

AI chip stocks rebounded collectively in pre-market trading. Micron Technology ( MU) rose more than 8% in pre-market trading, making it one of the strongest performers in the chip sector; Western Digital ( WDC) rose more than 6%, SanDisk ( SNDK) gained over 6%, Seagate Technology ( STX) climbed more than 7%, Marvell ( MRVL) rose over 5%. As oil prices retreated, easing pressure on Treasury yields, the market resumed trading the valuation recovery logic for AI hardware and high-growth tech stocks.

Airline stocks surged in pre-market trading. American Airlines ( AAL) rose more than 4% in pre-market trading, Delta Air Lines ( DAL) gained approximately 4.5%, United Airlines ( UAL) rose over 5%. The sharp drop in oil prices directly improved fuel cost expectations for airlines, with the market betting that profit margin pressures will ease if energy prices continue to fall.

SpaceX ( SPCX) continued its pre-market strength, at one point rising more than 7%. The stock jumped about 19% after completing its first day of trading last Friday and continued to attract capital today. The market is focused on SpaceX's subsequent inclusion in major indices, the opening of options trading, and passive fund allocation demands, factors that could continue to amplify the stock's short-term volatility.

Paramount Skydance ( PSKY) rose approximately 4.2% in pre-market trading. The U.S. Department of Justice approved its acquisition of Warner Bros. Discovery ( WBD) deal, boosting sentiment in the media M&A theme. If the deal proceeds, it will reshape the landscape of the traditional U.S. film, television, and streaming industries.

Market Headlines

The U.S. and Iran have reached a preliminary peace agreement, with the Strait of Hormuz expected to reopen. President Trump announced that the U.S. and Iran have reached a preliminary deal to end the conflict and reopen the Strait of Hormuz, with the formal document expected to be signed in Switzerland. Following the news of the agreement, international oil prices fell rapidly, and market concerns over global energy supply disruptions have significantly cooled. However, the Iranian nuclear issue and regional security arrangements have not been fully resolved, and the subsequent implementation of the agreement will continue to influence the movement of oil prices and safe-haven assets.

The Federal Reserve will hold its FOMC interest rate meeting on June 16-17. This meeting will see the announcement of the interest rate decision and the latest economic projections, with the market generally expecting the Fed to keep rates unchanged. Newly appointed Fed Chair Kevin Warsh will hold his first post-meeting press conference, where the market will closely watch his remarks on inflation, employment, the balance sheet, and the future path of interest rates. If his rhetoric leans hawkish, the rally in U.S. tech stocks could be suppressed; if his tone is dovish, the Nasdaq and growth stocks are likely to continue receiving support.

The G7 summit is being held in Évian-les-Bains, France. The agenda includes the follow-up arrangements for the U.S.-Iran deal, the situation in Ukraine, global trade frictions, critical mineral supply chains, and AI regulation. Trump's attendance has also drawn market attention to trade disputes between the U.S. and Europe, particularly his previous statements regarding France's digital tax and wine tariffs. If the G7 meeting signals further trade friction, it could cause volatility for multinational tech and consumer goods companies.

The U.S. Department of Justice has approved the Paramount-Skydance acquisition of Warner Bros. Discovery. The DOJ's Antitrust Division stated that the transaction is unlikely to harm market competition or consumer interests, clearing a major hurdle for this massive media merger. However, the deal still faces scrutiny from the FCC and overseas regulatory bodies, and it could face challenges from some state attorneys general.

SpaceX continues to be chased by capital following its public listing. The company completed a record-breaking IPO last week, surged on its first day of trading, and continued to climb in pre-market trading today. The market is currently trading not only its aerospace business but also its satellite internet, AI infrastructure, and the Musk-concept premium. However, due to the low proportion of floating shares in the early stages of listing, subsequent index inclusion, options trading, and the expiration of lock-up periods could all lead to significant volatility.

Key Data & Events Preview

The G7 Summit opened on June 15, Eastern Time.

The Federal Reserve held its June FOMC policy meeting from June 16 to June 17, Eastern Time.