Dow futures rally over 1,100 points on hopes of conflict end.

Equity index futures posted a massive intraday rally, with the Dow surging over 1,100 points and the S&P climbing 160 points amid reports of a potential resolution to the ongoing geopolitical conflict. Despite the daily strength, major indices remain under pressure for the month, with the S&P tracking for its worst month since September 2022 and the Dow poised to snap a 10-month positive streak. In options markets, ES near-term volume surged to over 70%, while implied volatility for Thursday dropped significantly to 20%. Meanwhile, Bitcoin and Ether saw a muted reaction, remaining slightly higher for the month despite the broader equity volatility.