08:16 AM EDT, 03/23/2026 (MT Newswires) -- The benchmark US stock measures rebounded sharply before the opening bell Monday after President Donald Trump said the US would postpone military strikes on Iran's energy infrastructure for five days amid ongoing talks between the two countries.

The S&P 500 was up 1.5% in premarket activity, while the Nasdaq and the Dow Jones Industrial Average gained 1.3% each. The indexes finished Friday's trading session in the red.

In a social media post Monday, Trump said the US and Iran were engaged in "very good and productive" talks over the past two days for a "complete" resolution of their hostilities in the Middle East.

"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," Trump wrote.

Over the weekend, Trump had warned that the US would "obliterate" Iran's power plants if Tehran did not fully reopen the crucial Strait of Hormuz within 48 hours. In response, Iran's military said it would attack regional energy infrastructure if the US decides to bomb its power plants, media outlets reported.

The Strait of Hormuz is a critical shipping route that connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. Iran effectively closed the waterway after US and Israeli strikes, which began at the end of last month.

Following Trump's latest announcement, oil prices fell sharply. Brent crude was down 4.5% at $101.65 a barrel before the opening bell, while West Texas Intermediate decreased 5.7% to $92.62.

Gold was down 4.2% at $4,384 per troy ounce. The precious metal is trending lower amid shifting expectations for the Federal Reserve's interest rate policy due to inflationary risks, RBC Capital Markets said in a note last week.

"When viewed within the energy-centric and inflationary context of Iran-derived uncertainty, we believe that this changed thinking, dollar strength, and higher yields all leave gold on its back foot," the brokerage said.

Last week, the Fed held interest rates steady and upgraded its inflation estimates amid the ongoing war in the Middle East.

Synopsys ( SNPS ) was up 1.9% before the open Monday as The Wall Street Journal reported that activist investor Elliott Investment Management has built a multibillion-dollar stake in the company.

Monday's thin economic calendar has the construction spending report for January at 10:00 am ET.

PDD (PDD), Chewy (CHWY), GameStop ( GME ) and Cintas ( CTAS ) are expected to release their latest quarterly financial results later in the week.

Treasury yields were mixed in premarket action, with the two-year rate advancing two basis points to 3.91% and the 10-year rate little changed at 4.39%. Bitcoin was at $69,995.50.