TLDR
- Wednesday marked a historic achievement as the S&P 500 breached the 7,000 level for the first time
- The Nasdaq extended its rally to 11 consecutive sessions, marking the longest winning run since late 2021
- Investor sentiment remains buoyed by prospects of extended US-Iran ceasefire negotiations
- Strong quarterly results from Bank of America and Morgan Stanley provided additional momentum
- Thursday’s earnings calendar features major reports from Netflix, PepsiCo, and Charles Schwab
U.S. equity futures showed positive momentum Thursday morning following Wednesday’s remarkable session that propelled the S&P 500 and Nasdaq Composite to unprecedented closing levels.
In a landmark achievement, the S&P 500 surpassed the 7,000-point threshold for the first time ever. Meanwhile, the Nasdaq broke through 24,000 and notched its eleventh consecutive daily gain—the longest such streak since November 2021.
During Thursday’s pre-market session, S&P 500 futures climbed 0.1%. Nasdaq 100 futures advanced 0.2%. Dow Jones futures registered a modest uptick of less than 0.1%.
Market participants are primarily focused on increasing expectations that Washington and Tehran will prolong their existing two-week truce, which reaches its expiration date on April 22.
BREAKING: The US and Iran are weighing extending their ceasefire by two more weeks.
President Trump also says the Iran War is "very close to over."
— The Kobeissi Letter (@KobeissiLetter) April 15, 2026
According to reports, both nations are currently conducting indirect diplomatic discussions. White House press secretary Karoline Levitt acknowledged on Wednesday that the administration remains “very much engaged in these negotiations.”
What’s Driving the Rally
Technology shares spearheaded Wednesday’s advance, enabling the Nasdaq to outperform broader market indices. Impressive earnings announcements from Bank of America and Morgan Stanley further reinforced positive market sentiment.
Chris Zaccarelli, chief investment officer at Northlight Asset Management, emphasized that the current rally rests on sound fundamentals.
“The underlying fundamentals are strong enough to support this bull market and it appears that both sides want this war to end,” he said.
He noted that market participants are positioning themselves ahead of an anticipated diplomatic breakthrough, while cautioning that hostilities could potentially resume.
Earnings and Economic Data on Deck
Thursday’s corporate earnings schedule includes significant reports from Netflix, PepsiCo, and Charles Schwab.
Economic releases include weekly initial jobless claims figures and the March industrial production report.
Oil prices maintained elevated levels notwithstanding ceasefire developments. Brent crude advanced 0.6% to reach $95.54 per barrel. West Texas Intermediate increased 0.7% to $91.97 per barrel.
The U.S. dollar traded sideways against major global currencies. The benchmark 10-year Treasury yield declined one basis point to 4.27%.
Thursday morning’s jobless claims report indicated a slight decrease from the previous week’s reading.
The greenback strengthened later in the session amid growing uncertainty regarding the precise schedule of US-Iran negotiations, market sources indicated.
Treasury yields predominantly declined on measured optimism surrounding a potential Middle East peace agreement.
In early Thursday trade, E-Mini S&P 500 futures stood at 7,070, while E-Mini Nasdaq 100 futures were positioned at 26,414.
