Nasdaq tech leads strong Wall Street rebound after Iran ceasefire deal

• Under the ceasefire, Iran agreed to permit safe passage through the Strait of Hormuz—which handles roughly 20% of global oil supply—for two weeks, while the US committed to halting strikes during the same period
• US WTI crude oil futures fell over 17% to $93.25 per barrel, while tech-heavy Nasdaq futures rose 3.5% and global markets surged, with Japan's Nikkei up 5.4% and Germany's DAX climbing 5.3%
• DeVere Group CEO Nigel Green cautioned the rally is 'far too optimistic,' noting the 14-day window does not represent a permanent policy shift and a fifth of the world's oil still flows through a corridor under influence of a conflict party

Market Summary: Wall Street Surges on US-Iran Ceasefire Deal

Key Market Movements:

US equity markets opened sharply higher on April 8, 2026, following a temporary ceasefire agreement between the US and Iran. The Nasdaq led gains, jumping 2.9% at the open with futures earlier indicating a 3.5% rise. The Dow Jones rose 2.8%, the S&P 500 gained 2.3%, and the small-cap Russell 2000 surged 3.45%.

Ceasefire Details:

President Trump announced a conditional two-week pause in military action approximately two hours before his 8pm EST deadline. The agreement requires Iran to ensure complete reopening of the Strait of Hormuz, through which roughly 20% of global oil supply flows. Iran's foreign minister confirmed forces would "cease defensive operations" and permit safe passage for two weeks.

Sector Performance:

Technology and semiconductor stocks led the rally, with Western Digital, Lam Research, Axon Enterprise, and ASML all up approximately 9%. Among the Magnificent 7, Meta Platforms rose nearly 5%, Alphabet and Amazon gained around 4%, while Apple lagged with a 1% increase.

Commodity Markets:

Oil prices collapsed on easing supply concerns, with WTI crude falling over 17% to $93.25 per barrel and Brent crude down over 15%. Precious metals bounced, with gold, silver, and copper all climbing. Maritime data confirmed shipping has resumed through the Strait.

Global Impact:

International markets surged in tandem: Japan's Nikkei and India's Sensex gained 5.4% and 4% respectively, Germany's DAX jumped 5.3%, and London's FTSE 100 rose 3.1%.

Analyst Caution:

deVere Group CEO Nigel Green warned the rally may be premature, noting the 14-day timeframe doesn't represent permanent stability and markets may be overly optimistic about de-escalation prospects.