Wall Street Futures Climb as Iran Deal Hopes Lift Sentiment; AMD Surges on Outlook

U.S. stock index futures advanced early Wednesday, CNBC reported, as Iran deal hopes drove oil prices lower and a strong after-hours print from chipmaker Advanced Micro Devices reinforced the broader earnings momentum.

S&P 500 futures gained 0.7%, Nasdaq 100 futures rose 1.2%, and Dow futures added roughly 304 points ahead of the opening bell.

Trump Cites “Great Progress” on Iran Agreement

President Donald Trump announced a pause to “Project Freedom,” a U.S. initiative aimed at escorting commercial vessels through the Strait of Hormuz. Trump attributed the pause to significant advances toward a comprehensive deal with Tehran, posting the update on Truth Social. Defense Secretary Pete Hegseth had already signaled stability on Tuesday, noting that the ceasefire between the two nations remained intact. He added that two American commercial ships and accompanying destroyers had already cleared the strait without incident.

The diplomatic signals pushed crude lower. West Texas Intermediate futures fell more than 1.5% to around $100.73 per barrel, while Brent crude slipped to roughly $108.23 per barrel.

AMD Pops 16% on Rosy Revenue Forecast

Chipmaker Advanced Micro Devices was the standout mover in extended trading, jumping 16% after it guided for approximately $11.2 billion in second-quarter revenue. The company also beat analyst expectations on both revenue and earnings for the first quarter. The result reinforced investor conviction in artificial intelligence-driven semiconductor demand.

Tuesday Session Extends Record-Breaking Run

Both the S&P 500 and the Nasdaq Composite set new intraday and closing records on Tuesday. The S&P 500 climbed 0.81%, the Nasdaq added 1.03%, and the Dow rose roughly 356 points. Approximately 85% of S&P 500 companies reporting so far have beaten earnings estimates. Around 77% have delivered a revenue surprise to the upside.

Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, told CNBC that stocks appear to be “climbing a wall of worry.” She pointed to AI-related earnings strength as a meaningful buffer for broader index earnings per share.

Asia Markets Join the Rally

Asian equities tracked the overnight Wall Street gains. South Korea’s Kospi surged more than 6% to close above 7,300, reaching a fresh record after returning from a holiday. Samsung Electronics topped a $1 trillion market capitalisation, rising over 14%. China’s CSI 300 added 1.45%, and Australia’s S&P/ASX 200 rose 1.3%.

Investors on Wednesday will also watch an ADP private payrolls report for April alongside earnings from Walt Disney, CVS Health, and Uber Technologies.

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