US Equity Futures Rise to Records as Oil Drops 11% on Reports of US-Iran Ceasefire Talks

US equity futures climbed to fresh all-time highs on the morning of 2026-05-06 as optimism grew over a potential end to the US-Iran conflict. 7 percent as of 8:00am while S&P 500 futures gained 1 percent. Both gauges built on recent record highs.

Iran is evaluating a new proposal from the US to end their near 10-week war, @FirstSquawk reported. A separate report stated the US and Iran are nearing a one-page memorandum of understanding to end the war. The development sent miners, cruise operators and airline companies higher in premarket trading while energy and fertilizer stocks fell.

Brent oil tanked 11 percent to below $98 a barrel on 2026-05-06. 50 a gallon for the first time since July 2022. The US dollar hit its lowest level since February while gold topped $4,700 an ounce.

35 percent. The yield on two-year UK gilts tumbled 17 basis points. Bitcoin rose for a seventh straight day. April ADP employment change data is scheduled for release at 8:15am on 2026-05-06.

Musalem said companies report they are holding back on hiring because of uncertainties.

leaped 13 percent after improved margins and a profit forecast that suggested it is controlling costs of delivering powerful AI servers.

Gained 31 percent after Q1 revenue beat average analyst estimates and its second-quarter revenue forecast came in ahead of consensus. CVS Health rose 5 percent after boosting full-year adjusted EPS guidance. The company posted adjusted profit and comparable sales for Q1 that topped average analyst estimates.

TransMedics fell 21 percent after adjusted EPS fell short of Wall Street expectations though it reaffirmed its full-year revenue forecast.

6 percent after a report that Anthropic plans to spend about $200 billion with Google over five years.