US stock futures climbed on Wednesday as investors weighed reports that the US has approached Iran with a plan to halt fighting, raising cautious hopes for an easing in a war that has roiled markets.

Contracts on the S&P 500 (ES=F) and Dow Jones Industrial Average (YM=F) rose around 1.1%. Meanwhile, Nasdaq 100 futures (NQ=F) jumped 1.3% on the heels of a day of losses for Wall Street stocks.

Oil prices retreated over 5%, continuing a wild ride as markets tracked Iran-related developments. West Texas Intermediate crude (CL=F) fell to around $87, while Brent crude (BZ=F) traded below $95.

Iran has received a 15-point plan aimed at bringing the Middle East conflict to a close, the AP reported, citing officials from intermediary Pakistan. The proposal is seen as a sign of growing urgency in the Trump administration to halt escalating attacks, given the likely severe hit to economies. While President Trump has said the US is engaged in ongoing negotiations with Iran, Tehran has pushed back on claims of direct talks, muddying the picture of the situation.

While Iran continued to launch strikes on Wednesday, the proposal news tentatively nudged up appetite for risk and market bets on an interest-rate cut from the Federal Reserve this year. Eyes are now on Wednesday's data releases, including February import and export prices, for a health check on the economy.

On Wall Street, knowing what has and hasn’t ultimately driven sustained periods of poor performance needs to be top of mind. Right now, investors are facing a rare combination of triggers — and that's a problem.

Yahoo Finance's Myles Udland writes:

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Mining stocks, Newmont (NEM), SSR Mining (SSRM), and Freeport-McMoran (FCX), rose roughly around 5% during premarket on Wednesday as gold futures rose as investors became hopeful that the war in the Middle East would end soon.

DigitalOcean (DOCN) stock fell 7% before the bell on Wednesday after announcing it had started a public offering if 700 million shares, which the company said will fund infrastructure and debts.

Alibaba (BABA) and JD.com (JD) rose more than 3% before the bell on Wednesday after China’s State Administration for Market Regulation said it would move to end the food delivery price war.

Arm shares rose over 13% in premarket after the company launched its own CPU and linked server rack for artificial general intelligence — a pivotal move for the linchpin chip designer.

Yahoo Finance's Daniel Howley reports:

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The biggest initial public offering on record could officially kick off its process this week.

The Information reported late Tuesday that SpaceX (SPAX.PVT) is preparing to file for its IPO with the SEC as soon as this week.

The rocket company led by Elon Musk is expected to raise up to $75 billion in its offering; the company was most recently valued at $1.25 trillion.

Bloomberg reports:

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Bloomberg reports:

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