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* Futures up: Dow, S&P 500 up 0.54% each, Nasdaq 0.74%

April 1 (Reuters) - U.S. stock futures advanced on

Wednesday, after the indexes saw their biggest one-day gains in

nearly a year in the previous session, following President

Donald Trump's comments that suggested a swift end to the Middle

East conflict.

Trump and Secretary of State Marco Rubio said on Tuesday

that the end of the Iran war could be near, signaling potential

for both direct talks with Iranian leadership and a winding down

of the conflict without a deal. Trump is scheduled to address

the country later in the day at 9 p.m. ET.

Global markets rallied, with Europe's STOXX 600 up

2.2%, South Korea's Kospi rising as much as 9% and

Japan's Nikkei climbing roughly 5%, as markets hoped for

a restoration of shipping through the Strait of Hormuz, which is

one of the world's key oil transit chokepoints.

Oil prices, which had surged since the war erupted in late

February, fell about 3% on Wednesday. U.S. energy stocks slipped

in premarket trading, with Exxon Mobil ( XOM ) and Chevron ( CVX )

down about 2.5% each.

"While signs of a willingness to negotiate are positive,

hurdles remain before an actual end to the conflict. A

resumption of energy flows may take longer still," said analysts

at UBS Global Wealth Management.

"A sudden end to the conflict, while leaving the status of

the Strait of Hormuz unclear, may also leave energy prices

higher for longer."

At 04:40 a.m. ET, Dow E-minis were up 252 points, or

0.54%, S&P 500 E-minis were up 35.25 points, or 0.54%

and Nasdaq 100 E-minis were up 177.75 points, or 0.74%.

The CBOE Volatility Index, known as Wall Street's

fear gauge, slipped to an over one-week low and was last down

0.51 points at 24.74.

Despite the rally on Tuesday, the S&P 500 and the Nasdaq

posted their steepest monthly declines in a year, while the Dow

logged its sharpest drop since September 2022.

Investors will also parse a slew of economic data throughout

the day, including private payrolls, retail sales and business

activity surveys.

Domestic private payroll figures for March will be in focus

on Friday, although U.S. markets will be closed for the Good

Friday holiday.

Money market participants had priced out any easing from the

U.S. Federal Reserve this year after the war outbreak stoked

energy-driven inflation fears, clouding the outlook for interest

rate cuts. They had previously expected two reductions.

Comments from Federal Reserve policymakers Alberto Musalem

and Michael Barr will be tracked for any clues on the monetary

policy path.

Among stocks, Nike ( NKE ) slumped 9.1% in premarket trading

after the sportswear giant forecast a surprise drop in its

fourth-quarter sales.

Shares of RH slid 17.2% after the luxury furniture

retailer forecast annual revenue growth below estimates and

missed expectations for fourth-quarter revenue.