--- title: "SG Morning Brief | Futures Surge Above 7,500 on Iran Deal Hopes, STI Hits 52-Week High" type: "News" locale: "en" url: "https://longbridge.com/en/news/287560576.md" description: "US OvernightUS cash markets were closed Monday for Memorial Day, but futures surged overnight. S&P 500 futures climbed above 7,534 — a new all-time high — gaining 0.9%. Nasdaq 100 futures rose 1.2% and Dow futures jumped 441 points (+0.9%). The catalyst was Trump saying talks with Iran were \"proceeding nicely,\" though he warned the US could go on the offensive if negotiations break down." datetime: "2026-05-26T00:45:29.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287560576.md) - [en](https://longbridge.com/en/news/287560576.md) - [zh-HK](https://longbridge.com/zh-HK/news/287560576.md) --- # SG Morning Brief | Futures Surge Above 7,500 on Iran Deal Hopes, STI Hits 52-Week High ## US Overnight US cash markets were closed Monday for Memorial Day, but futures surged overnight. S&P 500 futures climbed above 7,534 — a new all-time high — gaining 0.9%. Nasdaq 100 futures rose 1.2% and Dow futures jumped 441 points (+0.9%). The catalyst was Trump saying talks with Iran were "proceeding nicely," though he warned the US could go on the offensive if negotiations break down. WTI crude futures plunged roughly 6% on the comments, and a Qatari diplomatic team flew into Tehran over the weekend to help secure a deal. The dollar weakened against all G-10 currencies. Bloomberg reported that global stocks rose to record highs. However, key sticking points remain: Iran's enriched uranium stockpile and the Strait of Hormuz toll dispute. Secretary of State Rubio has said a deal is "unfeasible" if Iran insists on permanent control of Hormuz shipping. Barclays warned that even if Hormuz reopens today, inventories would begin from a level roughly 20 million barrels below the tight thresholds that historically support prices. ## SGX Update The STI closed at 5,070.55 (+0.05%) on Monday, setting a new 52-week intraday high after opening at 5,092.68 before giving back gains into the close. The previous 52-week high of 5,073.11 was set on May 21. DBS is trading near S$62.18 and UOB near S$37.91 — both well above levels from earlier this month. The overnight US futures surge and WTI -6% should provide a strong tailwind for today's session. If the Iran deal materializes, Singapore's import-dependent economy benefits directly through lower energy costs and easing inflation, supporting both consumer stocks and the banking sector. ## Asia Pre-Market S&P 500 futures are up 0.9%, Nasdaq 100 futures up 1.2%, and Dow futures up 0.9% — a strong handoff to Asian markets. WTI crude is down roughly 6% overnight. Gold, Bitcoin, and bond yields data were not yet updated following the holiday weekend. The risk-on tone is clear, but markets have been burned before by Iran deal optimism that failed to materialize. The key test is whether oil stays below $95 through today's session. ## This Week's US Earnings and Economic Calendar US markets reopen today, Tuesday May 26. Event Date Time (ET) Time (SGT) Consumer Confidence (May) Tue May 26 10:00 AM 10:00 PM Q1 GDP (2nd Estimate) Thu May 28 8:30 AM 8:30 PM April Core PCE Fri May 29 8:30 AM 8:30 PM Company Date Timing AutoZone (AZO) Tue May 26 Pre-mkt Zscaler (ZS) Tue May 26 Post-mkt Salesforce (CRM) Wed May 27 Post-mkt Dell (DELL) Wed May 27 Post-mkt Costco (COST) Thu May 28 Post-mkt Dollar Tree (DLTR) Thu May 28 Pre-mkt **Data Spotlight: April Core PCE (Friday May 29)** — The Fed's preferred inflation gauge arrives at the end of a shortened week. March core PCE was +2.6% YoY. The April print will reflect the full impact of $100+ oil on consumer prices. If core PCE rises toward 3%, the rate hike narrative hardens under new Chair Warsh. If it holds near 2.6%, the market gets breathing room. Consumer Confidence today will also be closely watched — the University of Michigan survey last week showed long-run inflation expectations at 3.9%, the highest in over a year. ## One More Thing Gas at $4.55 per gallon on Memorial Day weekend — the highest since 2022, up over 50% since the Iran war began on February 28. That is the number that matters to the 80% of Americans who don't own stocks. The market is surging on the prospect of peace, but the consumer is already living in the aftermath of three months of $100 oil. Even if a deal closes tomorrow and Brent drops to $80, gasoline prices take 4-6 weeks to fully adjust at the pump. The CNBC-Almanac seasonal outlook warns that June is historically the worst month for equities in midterm election years — the S&P 500 has lost 2.1% on average. Eight consecutive winning weeks have created a market that is priced for peace and falling oil. If that's what we get, the rally extends. If the talks collapse again, there is a lot of air beneath us. _This briefing is for informational purposes only and does not constitute investment advice._ ## Related News & Research - [These underdogs are a big reason S&P 500 profit growth is the fastest in nearly 5 years](https://longbridge.com/en/news/287549990.md) - [With the Market Red Hot, Is Tracking the S&P 500 Still a Good Idea?](https://longbridge.com/en/news/287668643.md) - [Why Is Vanguard S&P 500 ETF (VOO) Rising Today, 5/22/2026?](https://longbridge.com/en/news/287369886.md) - [Why Is Vanguard S&P 500 ETF (VOO) Rising Today, 5/26/2026?](https://longbridge.com/en/news/287644320.md) - [MOC Imbalance S&P 500: +1789 mln Nasdaq 100: +1149 mln Dow 30: +288 mln Mag 7: +352 mln](https://longbridge.com/en/news/287674616.md)