03:55 PM EDT, 04/08/2026 (MT Newswires) -- US equity indexes jumped while crude oil futures sank ahead of Wednesday's close amid reports that Vice President JD Vance will lead the talks with Iran in Pakistan, following the conditional two-week ceasefire deal with Tehran.

The Nasdaq Composite surged 2.7% to 22,603.4, the S&P 500 soared 2.4% to 6,773.1, and the Dow Jones Industrial Average catapulted 2.7% to 47,824.2.

Vance will lead a team of negotiators in talks with Iran in Islamabad on Saturday, The Wall Street Journal reported, citing the White House. Iranian Foreign Minister Abbas Araghchi said the ceasefire must include a pause in Israel's conflict with Hezbollah in Lebanon, the news report said, adding that White House Press Secretary Karoline Leavitt said Lebanon wasn't part of the ceasefire deal.

Leavitt also said Trump wants the Strait of Hormuz "reopened immediately, without limitation," and added it wasn't a "definitively accepted" policy position that Iran would be allowed to charge tolls, according to the WSJ.

West Texas Intermediate crude oil futures sank 17% to $96.32, and Brent crude futures plunged 13% to $96.51.