Stocks rise, dollar mixed after Trump extends ceasefire

US stock futures moved higher on Wednesday, April 22, and the dollar traded mixed after President Donald Trump announced an “indefinite” extension of the ceasefire between the United States and Iran, according to Reuters.

Financial markets showed a measured response to the development. S&P 500 futures rose by 0.4%, while Nasdaq futures gained 0.5%. In contrast, European futures slipped by 0.3%.

In Asia, trading was uneven. The MSCI Asia-Pacific index excluding Japan fell by 0.7%, but major markets in Japan, South Korea, and Taiwan climbed to record highs, supported by strong investor demand for artificial intelligence-related stocks.

Oil prices remained elevated amid ongoing geopolitical uncertainty. Brent crude hovered around $98.5 per barrel, while US West Texas Intermediate traded near $89.5. Prices continue to be supported by the closure of the Strait of Hormuz, a critical route for a substantial portion of global oil and gas shipments.

Analysts said the relatively muted market reaction reflects the fact that expectations of a ceasefire had already been partially priced in. However, uncertainty surrounding the broader conflict and the timing of any potential reopening of the Strait of Hormuz remains a key driver of market instability, keeping volatility high and sustaining inflationary pressures.

By Tamilla Hasanova