Finance

U.S. stock futures rose early Thursday as a preliminary deal to end hostilities between the U.S. and Iran boosted investor sentiment. While indices like the S&P 500 and Nasdaq experienced significant losses during Wednesday's session following the Fed's meeting, futures suggest a potential recovery as geopolitical risks subside.

Global oil prices fell after a peace agreement between the U.S. and Iran paved the way for the reopening of the Strait of Hormuz and the removal of oil sanctions. Brent crude dropped to approximately $78.66 per barrel, providing relief for energy costs and leading to U.S. gasoline prices falling below the $4 mark for the first time in months.

The yield on the benchmark 10-year Treasury note rose toward 4.5% following the Federal Reserve's signal that interest rate cuts are unlikely in the near term. Shorter-dated yields also climbed as investors adjusted to the central bank's 'dot plot,' which suggests the benchmark rate could remain between 3.6% and 4.1% through the end of the year.