USA: Futures Hold Recent Rally.

US equity futures were muted on Tuesday, holding their three-session rally after the US and Iran said they agreed to a deal that ends the conflict and reestablishes energy exports from the Persian Gulf. Contracts for the S&P 500, Nasdaq 100, and Dow were mostly flat with the latter hovering at a record high. Despite lingering inconsistencies in the terms of the deal per different reports, the US and Iran were still due to sign the agreement on Friday, with US authorities stating the Strait of Hormuz will reopen. Bond yields pulled back further as the development softened pro-inflationary concerns ahead of the Fed's likely rate hold tomorrow, although Chairman Warsh may continue to push for monetary framework overhauls in his first meeting. SpaceX was 10% higher premarket to gain 40% since its IPO on Friday following news it will aquire Cursor for $60 billion. In turn, tech heavyweights trimmed their gains following their rallies earlier, with Microsoft, Meta, and Alphabet edging down.