Brent crude oil briefly fell below $100 a barrel as traders reacted with optimism to Middle East peace signals. President Trump's statement about a potential U.S. exit from the conflict and Iran's willingness to end the war sparked a broad market rally. The UAE's openness to work with the U.S. and allies on opening the Strait of Hormuz further fueled investor confidence.

U.S. stock futures pointed to gains following Tuesday's rally, with Asian and European blue-chip indexes surging. The tech-heavy Nasdaq futures climbed 1.1% after semiconductor stocks gained in both regions. Meanwhile, the dollar weakened to a one-week low against a basket of currencies while U.S. Treasurys rallied on the positive sentiment.

Oil prices retreated after Trump suggested the U.S. would leave Iran within two to three weeks, regardless of a deal. In early trading, June Brent futures dropped 2.2% to $101.68 a barrel, while May WTI futures fell 3.8% to $97.57. Despite the market lift from de-escalation hopes, analysts cautioned that war effects would persist even if the conflict ended soon. Nike shares fell 9% premarket after forecasting an unexpected sales drop.