U.S. stock markets experienced significant fluctuations as investors reacted to ongoing tensions surrounding the Iran situation. Futures for the S&P 500 remained relatively stable leading up to a critical deadline set by Trump regarding the Strait of Hormuz. Meanwhile, optimism around a possible ceasefire in Iran briefly boosted the markets, with the Dow soaring over 1,100 points at one point, marking its best day since spring. However, uncertainty remained high as Iran rejected a ceasefire proposal, causing mixed reactions in trading. Oil prices soared past $110 per barrel, further impacting market sentiment. As traders digested news updates from the region, major indices saw gains and losses throughout the day, with the S&P 500 posting a four-day win streak and ending higher despite the volatility.