U.S. Equity Futures Rise While Bitcoin Slides After Reported U.S.-Iran Agreement to Halt Strikes

U.S. equity futures rose after reports that the U.S. and Iran agreed to halt strikes and resume talks. S&P 500 futures and Nasdaq 100 futures each gained 0.5 percent as of Monday, CoinDesk reported. Axios reported Sunday that the two countries agreed to fully halt strikes and meet this week in Qatar to discuss the Strait of Hormuz and a broader end to the conflict.

The reported de-escalation lifted equity futures. Bitcoin traded near $59,700, down 0.3 percent on the day and 6.8 percent on the week, according to CoinDesk data. Ether rose 0.3 percent to $1,572 while Solana gained 1.5 percent.

XRP and dogecoin continued to slide. Crypto markets showed little reaction to the reported agreement, consistent with price action over the prior two weeks. Bitcoin had risen after a June 19 peace deal signing before reversing those gains.

South Korea separately announced plans to double DRAM production capacity in the Seoul metro area over five years. Samsung and SK Hynix committed 800 trillion won, about $518 billion, to build four new fabrication plants. Asian tech hardware shares slid on the news even as eight of eleven MSCI Asia Pacific subgroups gained.