US equity futures climbed sharply on Wednesday, recovering from earlier weekly losses amid an extended ceasefire with Iran and upbeat corporate earnings. Futures on the S&P 500, Nasdaq 100, and Dow Jones were all up around 0.5%, with the S&P 500 and Nasdaq 100 approaching record highs. President Trump announced that the current ceasefire with Iran would be extended indefinitely, reversing earlier threats of military action in an effort to avert a near-term escalation that could worsen the global energy crunch. Nonetheless, uncertainty persisted after Iran struck and seized commercial vessels.
Risk appetite improved, lifting heavyweight companies with significant AI exposure in premarket trading. Amazon, Oracle, and Microsoft each gained more than 1%, while robust datacenter demand supported GE Vernova, which rose 7% after issuing strong guidance. AT&T also traded higher after topping revenue and earnings expectations. Tesla edged up ahead of its earnings release after the closing bell.
