Stock futures rise after Trump says there is a ceasefire timeline for Iran-Israel conflict: Live updates

Stock futures rose on Monday night after President Donald Trump said that there is a ceasefire timeline for Israel and Iran.

Futures tied to the Dow Jones Industrial Average added 167 points, or 0.4%. S&P 500 futures gained 0.4%, while Nasdaq 100 futures rose 0.6%. Stock futures took a leg higher after President Donald Trump announced on Truth Social a ceasefire timeline that he said would end the conflict between Iran and Israel.

The three major averages rose in the regular session as investors appeared to look past Iran's retaliatory strike on a U.S. military base in Qatar. Qatar's Defense Ministry said that its air defense had intercepted the attack. The Dow rose nearly 375 points, while the S&P 500 added 0.96%. The Nasdaq Composite gained 0.94%.

No casualties were reported from Monday's incident. This attack was in retaliation for the United States striking nuclear development facilities in Iran on Saturday.

Meanwhile, oil prices fell on Monday, which provided a tailwind to stocks. After hitting their highest levels since January overnight, West Texas Intermediate futures fell more than 7%.

“We probably built as much as a $15 to $20 per barrel premium in oil over the last week versus where we were trading pre-Israel, Iran. And we're now in the process of eliminating that,” said Veriten's Arjun Murti on CNBC's “Closing Bell: Overtime” on Monday. “I think the market is saying, 'Hey, it looks like the worst of this turmoil is behind us.' If we are on track to avoid a bigger war, that is unquestionably good news.”

On Tuesday morning, traders will watch Federal Reserve Chairman Jerome Powell as he speaks before the House Financial Services Committee and presents the central bank's monetary policy report. The central bank chief will go before the Senate Banking Committee on Wednesday.

Powell's appearance on Capitol Hill comes at a pivotal time: He is facing an aggressive push from the White House to cut rates — and in recent days two Fed officials have said they could see a case for dialing back policy as early as July.

On the economic release front, traders will also watch out for home price data and June's consumer confidence reading.

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Stocks making the biggest moves after the bell: KB Home, Chewy

These are the stocks moving the most in extended-hours trading:

• KB Home — The homebuilding stock slipped 2% after KB Home lowered its full-year housing revenues guidance to the range of between $6.3 billion to $6.5 billion. Previously, the company had predicted a range of between $6.6 billion to $7 billion. Shares fell despite KB Home posting a second-quarter earnings and revenue beat.
• Chewy — Shares fell 3% after the pet food and products retailer announced an underwritten public offering of $1 billion of its Class A common stock through JPMorgan. Concurrently, Chewy also agreed to a $100 million share repurchase program.