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* Futures up: Dow 1.01%, S&P 500 1.27%, Nasdaq 2.1%

June 15 (Reuters) - Futures tracking Wall Street's main

indexes jumped more than 1% each on Monday as investors cheered

a preliminary pact struck between the U.S. and Iran to end the

more than three-month conflict and reopen the strategic Strait

of Hormuz.

The framework for a deal, however, did not address sticking

issues such as Iran's nuclear program and the conflict between

Lebanon and Israel. The agreement is expected to be officially

signed on Friday in Switzerland.

Crude prices tumbled over 4% to their lowest since March

following the news and are likely to put the focus on energy

price-sensitive airlines and cruise stocks later in the day,

such as Delta and Norwegian Cruise, along with

energy companies such as Occidental and Exxon.

"If the overnight news of a deal between the U.S. and Iran

proves to be credible and lasting, this should be taken as a

positive, whereas setbacks will likely be taken as less of a

negative by risk assets," said Max Kettner, chief multi-asset

strategist at HSBC Global Investment Research.

Analysts caution that Brent crude prices could hover

around $80 a barrel despite the resolution, as energy flows

resume through the Strait and Middle Eastern countries restore

damaged infrastructure.

Data from last week indicated that higher energy costs were

filtering into consumer inflation, sharpening the focus on the

Federal Reserve's outlook at the monetary policy meeting later

this week.

The yield on the benchmark 2-year Treasury note,

reflecting interest rate expectations, slipped by 7 basis points

to a two-week low.

The Fed is expected to leave interest rates unchanged later

this week; however, traders still expect the central bank to

hike borrowing costs by at least 25 bps by year-end, according

to the CME Group's FedWatch tool.

At 04:03 a.m. ET, Dow E-minis were up 519 points, or

1.01%, S&P 500 E-minis were up 94.5 points, or 1.27%,

and Nasdaq 100 E-minis were up 622 points, or 2.1%.

SpaceX's shares rose 6% in premarket trading after the Elon

Musk-led company ended at $160.95 per share at its debut from an

IPO price of $135.

A collective sigh of relief swept across Wall Street after

trading in SpaceX's landmark Nasdaq launch went smoothly,

setting a new template for the trading firms and exchanges

bracing for the giant IPOs of OpenAI and Anthropic later this

year.

All three indexes ended the week higher despite AI shares

coming under pressure early in the week. Analysts pointed to the

tech sector's sensitivity to higher interest rates and to

potential positioning ahead of the highly anticipated SpaceX IPO

as the drivers of the sell-off.

Attention this week will turn to Fed chair Kevin Warsh's

first meeting at the helm, with investors gauging his

communication style and looking to economic and interest rate

projections for hints on the interest rate path.

Among other early movers, Paramount Skydance ( PSKY ) shares

gained 5.8% after the U.S. Justice Department cleared the

company's acquisition of Warner Bros.