US futures rise on Iran deal hopes as oil retreats
September S&P 500 and Nasdaq 100 futures post modest gains following signals from Pakistan that the US and Iran are nearing a diplomatic arrangement, while crude prices pull back.
US stock index futures rose on 11 August 2026 after Pakistan indicated the United States and Iran were nearing a diplomatic arrangement. September S&P 500 E-Mini futures gained 0.19%, while September Nasdaq 100 E-Mini futures rose 0.31%. WTI crude prices retreated following the comments, reversing earlier gains. Market sentiment improved despite US President Donald Trump’s recent demands for war reparations from Tehran.
Pakistan’s defence minister, Khawaja Asif, stated on Tuesday that signals in the "last two-three days" indicated the parties were close to an arrangement. The remarks helped stabilise markets that had been weighed down by fears of prolonged conflict and elevated oil prices. WTI crude prices gave up earlier gains and were little changed following Asif’s remarks.
Pre-market trading saw Marvell Technology (MRVL), Micron Technology (MU), and Arm Holdings (ARM) advance over 1%. The technology sector had closed lower on Monday, with Arm Holdings falling over 5% and Marvell Technology dropping more than 4%. However, chip stocks appeared to find support in early trading, suggesting a potential rotation back into the sector after recent profit-taking.
In corporate news, Riot Platforms (RIOT) surged more than 16% in pre-market trading after announcing a 20-year deal to supply 191 megawatts of capacity to a "leading frontier AI" company, reported by Bloomberg to be Anthropic. Conversely, Upwork (UPWK) fell over 19% after cutting its full-year guidance, and Hims & Hers Health (HIMS) slid more than 4% following a wider-than-expected second-quarter loss.
Investor attention is now turning to upcoming economic data and earnings reports. The National Association of Realtors’ existing home sales report is due later on Tuesday, with economists expecting sales to come in at 4.05 million units. Meanwhile, the US inflation report on Wednesday is forecast to show headline inflation slowing to 3.4% year-on-year, a key data point for the Federal Reserve’s interest rate path.
