Middle East Outlook Elevates Wall Street Pre-Bell; Asia, Europe Up

07:08 AM EDT, 06/24/2025 (MT Newswires) -- Wall Street futures pointed solidly higher pre-bell Tuesdays after Iran and Israel evidently accepted a US-brokered ceasefire agreement, and as traders awaited Congressional testimony from the nation's central bank chief.

Federal Reserve Chair Jerome Powell will present his semi-annual testimony to the House Financial Services Committee, starting at 10 am ET. Powell may offer that rate cuts are possible this year, depending on the rate of inflation following higher US tariffs.

In the futures, the S&P 500 rose 0.8%, the Nasdaq in 1% and the Dow Jones was up 0.7%.

Asian exchanges traded solidly higher overnight, while European bourses tracked into the green midday on the continent.

On the economic calendar is the Q1 current account report at 8:30 am ET, followed by the Case-Shiller Home Price Index, and the FHFA House Price Index, both for April, at 9 am.

The Conference Board consumer confidence report for June posts at 10 am, along with the Richmond Fed Manufacturing Index.

Federal Reserve Cleveland President Beth Hammack, New York President John Williams, Boston President Susan Collins, and Governor Michael Barr speak on Tuesday.

In pre-market action, bitcoin traded at $105,254, West Texas Intermediate crude oil traded lower at $66,79, and 10-year US Treasuries offered 4.35%. Spot gold traded for $3,327 an ounce.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.