Trump's Iran Speech Looms: Oil Prices Fluctuate

U.S. stock futures showed little change on Wednesday night, following gains across major averages as the second quarter began. Traders are closely watching for updates on the Middle East conflict, with President Donald Trump scheduled to deliver a crucial address concerning Iran at 9 p.m. ET. This speech is anticipated to be market-moving, particularly for oil prices, which have seen substantial increases since the conflict's outset in late February.

Major indexes concluded Wednesday's trading session on an upward trend, fueled by investor optimism regarding a potential end to the U.S.-Iran war. West Texas Intermediate and Brent crude oil futures settled lower, providing some relief to the market. President Trump indicated on Truth Social that Iran's president sought a ceasefire, but emphasized U.S. conditions for consideration, referencing the Strait of Hormuz. He also mentioned expectations for U.S. military withdrawal from Iran within two to three weeks.

Market participants are focused on understanding the economic impact of the conflict, with experts noting that a quick return to normal inflation levels is unlikely. Concerns remain about potential growth shocks amid a robust economy. Thursday marks the last trading day of a shortened week, with markets closed for Good Friday. Key economic data releases, including initial jobless claims and the March jobs report, are expected in the coming days.