Stock futures rise on report that the U.S. has sent Iran a plan to end the war: Live updates – CNBC
Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026.
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Stocks jumped on Wednesday as oil prices pulled back and traders hoped the U.S. and Iran could reach an agreement for a ceasefire.
The Dow Jones Industrial Average gained 305.43 points, or 0.66%, and closed at 46,429.49. The S&P 500 rose 0.54% to 6,591.90, and the Nasdaq Composite advanced 0.77% to end at 21,929.83.
The Associated Press, citing unnamed officials in Islamabad, reported that Iran has received a 15-point proposal from the U.S. to end the war. The New York Times had first reported that the U.S. sent Iran a peace plan. The plan was delivered by way of Pakistan, that outlet said, citing two unnamed officials.
Iran state media also reported Wednesday that the Middle Eastern country would reject the U.S.’ ceasefire offer, however, instead laying out a five-point plan that includes granting Tehran control over the Strait of Hormuz.
Oil prices were under pressure following those developments. West Texas Intermediate futures lost 2.2% to close at $90.32 per barrel. International Brent also fell 2.17% to settle at $102.22. Treasury yields also tumbled with oil prices.
To be sure, the two countries appear to be very far apart. The Wall Street Journal reported that the U.S. is deploying the Army’s 82nd Airborne Division to the Middle East.
Trump said Tuesday that the U.S. is “in negotiations right now” with Iran. He added that Tehran is “talking sense” and suggested it is eager to make a peace deal.
The war has led to tremendous volatility for stocks this week. The market on Tuesday gave back some of its gains from Monday, which saw all three averages soaring more than 1% after Trump wrote in a Truth Social post that the U.S. and Iran have held “very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East.” However, Iranian state media denied reports of these direct talks between the two nations.
“While there remain questions over who in Iran can curtail military activities as well as what will satisfy Israel interests, the market seems to be expressing a view that it wants to bounce higher from here,” said JPMorgan’s trading desk in a note. “Also, it is unclear that Iran would drop previous requests, including security guarantees against future aggression and reparation/compensation for losses incurred during this conflict.”
Gains in shares of technology supported the broader market Wednesday, with Nvidia, AMD and Intel all jumping.
