Dow, S&P 500, Nasdaq Futures Climb After Brutal Quarter As Trump Signals Iran De-Escalation: Why APLD, NKE, RH, NASA, NCNO Are In Focus

• Wall Street posted its strongest session since May, supported by hopes of easing tensions in the Iran conflict.
• Iran signaled openness to ending hostilities, while Trump said the U.S. could exit the conflict within two to three weeks.
• Technology stocks led Tuesday’s rally, with XLK up over 4%, Nvidia rising 5.6%, and Microsoft gaining 3.1%.

U.S. stock futures traded higher Tuesday after Wall Street logged its strongest session since May amid hopes that the Iran conflict could ease, while investors continued to track volatile oil prices and a fresh batch of economic data due Wednesday.

As of 9.30 p.m. ET, Nasdaq 100 futures were up 0.3%, while S&P 500 futures were up 0.2%. Dow futures were up 0.1%.

On Stocktwits, retail sentiment toward the SPDR S&P 500 ETF Trust (SPY), Invesco QQQ Trust (QQQ), and the SPDR Dow Jones Industrial Average ETF Trust (DIA) was ‘extremely bearish’ amid ‘high’ message volume.

US Market Drivers

Markets reacted to growing optimism that the Iran war could move toward resolution after Iranian President Masoud Pezeshkian signaled openness to ending the conflict if Iran’s “legitimate rights” were recognized, reparations were paid, and firm international guarantees were provided against future attacks.

The development comes after U.S. President Donald Trump is reportedly willing to exit military hostilities even if the Strait of Hormuz remains largely shut. Trump also said that the U.S. could leave Iran within two to three weeks, suggesting military goals had largely been accomplished and that other nations could take the lead in reopening the Strait of Hormuz.

Tuesday marked the final trading day of the first quarter, with all three major averages posting their best daily performance since May. The S&P 500 (SPX) posted its worst quarter in a year, while the Dow Jones Industrial Average (DJIA) and the Nasdaq Composite (NDAQ) recorded their worst quarterly performances since 2022 amid the Iran conflict, private-credit worries, and the AI “scare trade.”

Tech stocks led the rebound. The Technology Select Sector SPDR Fund (XLK) rose over 4%, Nvidia climbed 5.6%, and Microsoft gained 3.1%.

“The market is absolutely locked in on the Iran conflict at this point,” Nationwide chief market strategist Mark Hackett told MarketWatch, adding that rallies tied to hopes of de-escalation have often faded later in the week as the outlook for a resolution becomes “more opaque” and individual investors step back from equities.

Still, disruptions tied to the Strait of Hormuz continued to influence energy markets. Brent crude settled up 4.94% at $118.35 per barrel, the highest close since June 2022, after Iran reportedly struck a Kuwaiti oil tanker in Dubai waters. West Texas Intermediate crude settled down 1.46% at $101.38 per barrel.

The partial closure of the Strait of Hormuz has choked off supplies of crude and gas to global markets, pushing U.S. gasoline prices above $4 per gallon for the first time since August 2022 and raising concerns about inflation pressures.

Ross Gerber, CEO of Gerber Kawasaki, said on X that “the stock market hates inflation. Lower oil prices. Higher stocks. The next few weeks should be very interesting.”

Trending Stocks To Watch On NYSE, Nasdaq

Applied Digital (APLD): Shares logged their best session in nearly two months on Tuesday, after the company highlighted construction progress at its Polaris Forge 1 AI infrastructure campus in North Dakota as it continues to scale hyperscale capacity.

Nike (NKE): Shares of the sportswear giant fell 9% in extended trading after tariff-driven margin pressure and a weaker fourth-quarter (Q4) revenue outlook overshadowed third-quarter earnings and revenue that topped Wall Street estimates.

RH (RH): Shares dropped 17% after-hours as the luxury furniture retailer reported Q4 results below consensus and issued weaker-than-expected fiscal 2026 guidance, including lower revenue and margins.

Tema Space Innovators ETF (NASA): The newly launched space economy ETF jumped more than 7% after-hours in its trading debut as investors piled into the first pure-play fund offering direct exposure to SpaceX ahead of its expected IPO.

nCino (NCNO): Shares surged 19% after-hours as the company announced a $100 million accelerated share repurchase program and issued FY27 revenue guidance in line with expectations.

How Global Markets Are Performing Today

In broader markets, the yield on the benchmark 10-year U.S. Treasury note was 4.3%, extending its retreat from the recent eight-month high of 4.44%, while gold traded near $4,670 an ounce. 

Economist Peter Schiff said on X that despite the Dow’s rally, the rise in gold and silver means that “in terms of real money, the value of U.S. stocks fell. Expect more of the same as the consequences of larger federal deficits, a weaker dollar, and rising inflation continue to erode real values.”

Asian markets were higher, with MSCI’s broadest index outside Japan rising nearly 1% as shares opened stronger in Japan and Australia.

Among the catalysts for the day are ADP employment data, retail sales and retail sales excluding autos, S&P Global final manufacturing PMI, ISM manufacturing data, business inventories, and remarks from St. Louis Fed President Alberto Musalem and Federal Reserve Governor Michael Barr.

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