Stock futures rose on Wednesday after President Donald Trump extended the U.S. ceasefire in Iran and a number of upbeat earnings reports. S&P 500 futures added 0.7%, while Nasdaq 100 futures gained 0.9%. Futures tied to the Dow Jones Industrial Average rose by 335 points, or 0.7%. Shortly after Tuesday’s close, Trump extended a two-week U.S. ceasefire, saying it was warranted due to Tehran’s “seriously fractured” government. “Based on the fact that the government of Iran is seriously fractured, not unexpectedly so, and upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our attack on the country of Iran until such time as their leaders and representatives can come up with a unified proposal,” the president said in a Truth Social post. “I have therefore directed our military to continue the blockade and, in all other respects, remain ready and able and will therefore extend the Ceasefire until such time as their proposal is submitted and discussions are concluded, one way or the other,” he added. But the timeline remains dicey, after a lack of commitment from Tehran resulted in a pause in Vice President JD Vance’s trip to join peace talks, according to reports from The New York Times and Axios, which cited U.S. officials with knowledge of the situation. Iranian state media reported on Wednesday that negotiators from Tehran said they wouldn’t appear as talks with the U.S. were a “waste of time.” Even after Trump extended the ceasefire, Iran’s navy said Wednesday that it had seized two container ships in the Strait of Hormuz as tensions persist in the key waterway. Aside from the ceasefire announcement, sentiment has been supported by a strong start to earnings season. On Wednesday, Boeing shares rose more than 3% after the company reported a smaller-than-expected loss for the first quarter. Boeing is among the more than 80% of S&P 500 companies that have reported so far that have surpassed expectations, according to FactSet data. Last week, the S&P 500 erased all of its losses since the beginning of the war as hopes of de-escalation rose. Both the broad market benchmark and the Nasdaq Composite notched multiple all-time and closing highs, with the S&P closing above the 7,100 level for the first time ever. Despite ongoing geopolitical uncertainty, Stephanie Aliaga, global market strategist at JPMorgan Asset Management, expects the rally to continue, buoyed by the AI boom and rising productivity. “We’re clearly not in the clear when it comes to this conflict in the Middle East, but markets are forward-looking, and the reality is we are still on a de-escalatory path,” Aliaga said on CNBC’s “Closing Bell: Overtime.” “We don’t know the details and the timing exactly yet—and I think that remains a risk for markets, especially a market that had so swiftly moved to price in essentially, coast is clear. So there is some choppiness. But ultimately these are bumps along the road to a market that is on an upward trajectory.” U.S. Treasury yields were broadly flat on Wednesday after President Donald Trump announced an indefinite extension to the ceasefire with Iran. The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — was down more than 1 basis point at 4.276%. The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, was also lower by more than 1 basis point at 3.762%. The longer-dated 30-year Treasury bond yield fell a basis point to 4.888%. Japan’s Nikkei 225 hit a record high Wednesday while the broader Asian markets were mixed as traders assessed the Middle East conflict outlook after President Donald Trump extended the U.S. ceasefire with Iran. Japan’s Nikkei 225 hit a record and ended the session 0.4% higher at 59,585.86 following the release of its latest trade data. South Korea’s Kospi rose 0.46% to 6,417.93. The small-cap Kosdaq added 0.18%. Mainland China’s CSI 300 index gained 0.66% at 4,799.62, while Hong Kong’s Hang Seng index declined 1.19% in its last hour of trade on Wednesday. India’s Nifty 50 slipped 0.59%. Shares of IT company HCL Technologies dropped 8.87% after its fourth-quarter earnings missed expectations. Australia’s S&P/ASX 200 fell 1.18% to 8,843.6. Oil prices oscillated Wednesday as uncertainty lingered over the trajectory of the U.S.-Iran conflict, as President Donald Trump extended a fragile ceasefire with Tehran but signaled tensions remain far from resolved. International benchmark Brent crude and U.S. West Texas Intermediate futures edged into positive territory by 4:52 a.m. ET, after sliding earlier in the day. Brent contracts for June delivery were last seen trading 0.6% higher at $99.02 per barrel, while WTI futures gained 0.5% to settle at $90.12. Gold prices firmed on Wednesday as lower oil prices, following a U.S. extension of a ceasefire with Iran, eased fears of an inflation spike and prolonged high interest rates. Spot gold rose 0.8% to $4,748.58 per ounce after falling to its lowest level since April 13 on Tuesday. U.S. gold futures for June delivery gained 1.1% to $4,769.50.