U.S. stock futures are relatively flat in premarket trading as traders assessed the fragile two-week ceasefire between the U.S. and Iran. The moves come after gains on Thursday, extending this week’s rally after President Donald Trump agreed to pause attacks on Iran for two weeks.

The Dow Industrial Index ($DJI) crept into positive territory for the year while the benchmark S&P 500 is just 0.3% lower in 2026. The major averages are on pace for solid weekly gains. The S&P 500 has jumped 3.7% through Thursday’s close, tracking for its best week since November.

The Dow has gained 3.6% week to date, while the Nasdaq-100 (NDX) is on pace to rise 4.3%. While investor focus remains on headline news from the Middle East, markets will also digest the March CPI data this morning which is expected to rise 0.9% month-over-month and a 3.3% gain over the prior 12 months. 

• Oil (/CL) – Oil prices are relatively flat near $98 a barrel amid persistent tensions around the Strait of Hormuz, with the vital shipping lane still largely closed despite a ceasefire deal between the U.S. and Iran.

• Gold (/GC) – Gold prices are down 0.7% near $4780 after gaining over 1% on Thursday as a ​weaker U.S. dollar lent ​support. Investors assessed ​the durability of a fragile ceasefire between Washington and Tehran and are awaiting the release of March consumer price index data this morning. 

• Bitcoin (/BTC) – The Crypto Future is relatively flat near 72,000 in premarket trading.

• VIX – The CBOE Volatility Index was down 7% on Thursday and settled at 19.57 as stocks rose. It was the lowest closing price for the VIX in six weeks.

• U.S. Dollar (/DX) – The dollar is relatively flat in the session, trading at 98.75.

• Citi upgrades Nexstar (NXST) to Buy from Neutral

• Mizuho upgrades Shake Shack (SHAK) to Outperform from Neutral

• UBS downgrades ServiceNow (NOW) to Neutral from Buy

• Piper Sandler downgrades Nike (NKE) to Neutral from Overweight

• Citi downgrades Autodesk (ADSK) to Neutral from Buy

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