Nasdaq futures surged Tuesday following reports that President Donald Trump expressed a willingness to de-escalate tensions with Iran without fully reopening the Strait of Hormuz. However, major indexes are poised to register their worst quarterly performance in nearly four years. Futures for the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 exhibited increases of 1.0%, 0.9%, and 0.8%, respectively, in the latest trading session.

Nonetheless, the three major indexes appeared set to record their most significant quarterly decline since the second quarter of 2022. The Nasdaq, S&P 500, and Dow experienced declines of 10.5%, 7.3%, and 5.9%, respectively, as they approached the final trading day of the quarter. Late Monday, it is reported that Trump informed aides of his willingness to conclude the conflict with Iran without fully reopening the critical Strait of Hormuz shipping channel. West Texas Intermediate crude futures, the U.S. oil benchmark, experienced a decline following the news but have recently rebounded, rising over 1% to surpass $104 a barrel. The most heavily traded contract of Brent crude futures, the global benchmark, increased to $107.75. Meanwhile, the average price of gasoline in the U.S. has reached $4 per gallon.

The yield on the 10-year Treasury note, a key determinant of interest rates across various consumer loans, decreased to 4.32% from the previous day’s close of just under 4.36%. The yield concluded last Friday at approximately 4.44%, marking its highest closing level since the previous July. Gold futures increased by 0.7% to approximately $4,585 per ounce, yet they are still significantly below their peak of over $5,625 per ounce reached on January 29. The U.S. Dollar Index, which monitors the value of the greenback relative to a selection of currencies, remained relatively stable at 100.50. Bitcoin experienced a modest increase, reaching $66,600.

In premarket trading, shares of the Magnificent Seven tech giants exhibited an upward trajectory following a mixed performance in the previous session. Meta Platforms, which led the group’s advances at around 2% Monday, was up a further 1.5% before the bell. McCormick & Co. shares gained nearly 4% following Unilever’s confirmation of a Journal report indicating that it was close to finalizing a deal to acquire the spice maker. Unilever, the parent company of the mayonnaise brand Hellmann’s, experienced a modest increase in its shares, rising by less than 1%.