09:14 AM EDT, 04/08/2026 (MT Newswires) -- US equity futures rose pre-bell Wednesday after the US and Iran agreed on a two-week ceasefire and a potential reopening of the Strait of Hormuz.

Dow Jones Industrial Average futures were 2.5% higher, S&P 500 futures were up 2.6%, and Nasdaq futures were 3.4% higher.

President Donald Trump said that reopening the Strait of Hormuz was a key condition of the ceasefire, and Iran has agreed to allow the safe transit of vessels in the area. Talks between the two nations will begin on Friday in Islamabad.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 16% at $91.47 per barrel and US West Texas Intermediate crude 20.19% lower at $92.79 per barrel.

The Federal Open Market Committee is scheduled to release the minutes from its most recent meeting at 2 pm ET.

In other world markets, Japan's Nikkei closed 5.4% higher, Hong Kong's Hang Seng ended 3.1% higher, and China's Shanghai Composite finished 2.7% higher. Meanwhile, the UK's FTSE 100 was up 3%, and Germany's DAX index was up 5.3% in Europe's early afternoon session.

In equities, Tesla (TSLA) shares were up 4.5% after its new vehicle registrations in the UK rose 20% in March, according to a report by the Society of Motor Manufacturers and Traders. United Airlines (UAL) shares were up 11% as oil prices eased after the ceasefire announcement.

On the losing side, Exxon Mobil ( XOM ) shares were down 5.5% after the company said its Q1 global oil-equivalent production is expected to be 6% lower from the previous quarter due to attacks on facilities in Qatar and the United Arab Emirates last month.