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S&P and oil futures spike minutes before Trump halts planned strikes on Iran

Mar 23rd 2026 · United States

Unusual volume bursts hit S&P 500 e-Mini and WTI May futures at about 6:50 a.m. New York, minutes before a 7:05 a.m. Truth Social post by President Trump saying he would halt planned strikes on Iranian energy targets, which sent stocks up and oil down ahead of the open.

  • At about 6:50 a.m. New York, S&P 500 e-Mini futures showed a sharp isolated volume spike.
  • West Texas Intermediate May futures recorded a similar volume pickup at roughly the same time.
  • At 7:05 a.m. President Trump posted that the U.S. and Iran had held talks and he was halting planned strikes on Iranian power plants and energy infrastructure.
  • Following the post, S&P 500 futures rallied more than 2.5% and WTI futures fell nearly 6% before the open.
  • The preannouncement trades drew scrutiny because there was no obvious public catalyst at 6:50 a.m., regulators and the exchange did not immediately comment, and algorithmic flows can move markets in thin premarket liquidity.

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