U.S. stock futures are rising as investors react positively to news that President Trump announced a peace agreement with Iran, easing fears of a broader conflict in the Middle East.
The reopening of the Strait of Hormuz pushed oil prices down nearly 5%, while optimism was further supported by SpaceX's strong IPO performance.
Investors will also watch this week's economic data and the Federal Reserve meeting, although markets overwhelmingly expect interest rates to remain unchanged.
