Nasdaq-100 futures rallied 3% amid lower oil and a ceasefire.

Bob Iaccino breaks down a strong session for June Nasdaq-100 futures, which rallied 3.07% following the announcement of a conditional two-week ceasefire between the U.S. and Iran. The agreement to reopen the Strait of Hormuz drove crude oil prices down more than 16%, easing inflation pressures and boosting corporate margin expectations for rate-sensitive tech stocks. Additionally, lower U.S. Treasury yields provided a tailwind for the equity complex. Although the 10-Year yield rebounded to 4.28% from an intraday low of 4.24%, rates ended the session lower, adding further support to growth stocks in a lower-uncertainty environment.