Dow, S&P 500, Nasdaq Futures Climb After Oil In Focus As Trump Declares ‘Energy Ceasefire’ Between Russia And Ukraine: IREN, WFF, VSTM, CIFR Stocks In Focus

• On Friday, Trump said Russian leader Vladimir Putin had agreed to supply diesel to America and the global markets following a discussion
• However, the deal with Russia was met with backlash from Republican and Democratic lawmakers, who said that it violates U.S. laws.
• The telecom sector was also in focus after SpaceX said last week that it had agreed to buy up to 14 megahertz of paired spectrum in the 800 MHz band, putting Starlink Mobile on track to compete as a major U.S. mobile carrier.

U.S. stock futures edged higher late Sunday after a drop in oil prices, following U.S. President Donald Trump's announcement that Russia and Ukraine have agreed to an “energy ceasefire” effective immediately.

As of 11:27 p.m. EDT, Dow futures were up about 0.34%, the S&P 500 futures gained 0.31% and the Nasdaq-100 futures climbed 0.43%. 

On Friday, the three benchmark indexes closed higher. The Dow Jones Industrial Average led the climb, adding more than 400 points to close up 0.83%. The S&P 500 gained 0.59% at close, while the Nasdaq Composite was up 0.64% at the end of the session. 

Last week, all three U.S. benchmark indexes closed higher. 

Key US Market Drivers

Oil was in focus late Sunday amid the dualities of an energy ceasefire announced between Russia and Ukraine and continued Middle East conflict, which kept prices above $100 a barrel. 

Trump announced in a Truth Social post, “Effective immediately, there is an ENERGY CEASEFIRE in the War between Russia and Ukraine. Both parties have agreed. Do not break it!”

Earlier on Friday, Trump said that Russian leader Vladimir Putin had agreed to supply diesel to America and the global markets following a discussion. “Russia will immediately supply over 300,000 Tons of Diesel Fuel to the American and Global Marketplace, another 500,000 Tons during the month of November, and 1,000,000 Tons immediately thereafter. Additionally, based on the condition of their Diesel Refineries, Russia will then deliver, within a short period of time, 3,000,000 Tons of Diesel Fuel,” Trump said. 

Oil prices edged lower at the time of writing, although they continued to trade over $100 a barrel. Brent crude futures expiring in December were trading at $102.91 a barrel, down nearly 2%, while WTI crude futures expiring in November traded at $90.03 per barrel.

However, the deal with Russia was met with backlash from Republican and Democratic lawmakers, who said that it violates U.S. laws.

On Sunday, a group of seven senators, including four Republicans and three Democrats, released a statement urging the administration to “immediately reverse course.”

“Congress explicitly banned Russian energy imports in 2022 to prevent American dollars from financing Putin’s brutal war against Ukraine. Congress was clear: the U.S. should not import oil from Russia until it ends its aggression against Ukraine and ceases threats against our NATO Allies. President Trump’s decision to allow Russian diesel imports to the U.S. runs directly counter to that law,” they said. 

“The United States should not provide Putin with a financial lifeline while Russia continues to kill Ukrainian civilians,” they added. 

Meanwhile, conflict in the Middle East continued to escalate over the weekend after the Houthis claimed ‌responsibility ⁠for a Saturday strike on Riyadh's international airport that killed 13 people and wounded more than 300. 

Additionally, BP withdrew from the World Petroleum Council Energy Congress in Riyadh on Sunday after the attack. 

"We made every effort to participate in WPC. ‌Unfortunately, ⁠due to travel disruption, we are unable to be there in person. We greatly value our longstanding partnerships across the region," a BP spokesperson ​reportedly said, as per Reuters. 

The telecom sector was also in focus after SpaceX (SPCX) said it had agreed to buy up to 14 megahertz of paired spectrum in the 800 MHz band, putting Starlink Mobile on track to compete as a major U.S. mobile carrier.

Shares of other telecom companies including AT&T Inc. (T), T-Mobile US (TMUS), Verizon Inc. (VZ) and Comcast (CMCSA) sank following the announcement. 

Meanwhile, investors are gearing up for the third-quarter earnings season, which starts next week with major U.S. banks reporting results. 

Trending Stocks To Watch 

IREN Ltd. (IREN): Shares of the company jumped 9% in the overnight session late Sunday after a media report indicated that Anthropic is the mystery AI cloud customer that IREN had referenced in its earnings call a few months ago.

WF Holding Limited (WFF): The microcap company drew retail attention after its shares pulled back overnight after jumping more than 499% on Friday amid speculative trading. 

Verastem Inc. (VSTM): The biopharmaceutical company was in the spotlight ahead of its investor event on Wednesday, where it is expected to present initial efficacy results and updated safety data for its oral cancer drug. 

Cipher Digital Inc. (CIFR): The company’s shares moved 2% higher in the overnight session on Sunday, riding in sympathy with peer IREN’s steep climb higher. 

Other Market Trends 

Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY), the SPDR Dow Jones Industrial Average ETF Trust (DIA) and the Invesco QQQ Trust (QQQ) all climbed at the time of writing, with sentiment in the ‘bullish’ territory. 

Meanwhile, U.S. long-dated Treasury yields continued above 5%. At the time of writing, the 10-year U.S. Treasury yield was trading at 5.242%, and the 30-year Treasury bond yield was 5.60%. 

The iShares 20+ Year Treasury Bond ETF (TLT) was up 0.18% amid ‘bullish’ sentiment. 

Asian markets opened mixed on Monday. South Korea's KOSPI, Japan’s Nikkei 225 and China’s SSE Composite were down at the time of writing, while Australian stocks were trading higher at the open.

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