Global markets rallied Tuesday, with U.S. stock futures, European, and Asian shares climbing higher, even as uncertainty persists around maritime trade routes due to Middle East tensions. The S&P 500 has now fully recovered all losses sustained since the conflict began in late February, driven by investor optimism surrounding potential U.S.-Iran talks.

Crude benchmarks eased off recent highs; Brent crude traded near $98 a barrel while WTI hovered around $97, contributing to a slight dip in U.S. average gasoline prices. This sentiment shift suggests traders are prioritizing momentum over geopolitical risks, with some market participants viewing the S&P 500 as effectively 'indestructible' amid the rally.

Geopolitical maneuvering continues as Saudi Arabia quietly lobbies the U.S. to lift its naval blockade, fearing escalation against Red Sea assets by Tehran-backed militants, despite Riyadh restoring its own oil flows. Separately, JPMorgan Chase reported record trading revenue, though CEO Jamie Dimon cautioned about increasing risks stemming from global conflicts.

Meanwhile, the OpenAI CEO faced an attempted attack on his home, yet business leaders offered little public comment, setting a troubling precedent regarding responses to violence against tech figures. The market's current bullishness appears to stem from the hope that diplomatic breakthroughs might avert further trade disruption, overriding immediate security concerns.