US Markets Poised for Gains as Iran Diplomacy Hopes Lift Sentiment

US equity futures are trending higher ahead of Tuesday's open, driven by optimism that a second round of diplomatic talks with Iran could de-escalate ongoing tensions in the Middle East. This shift in geopolitical sentiment is providing a modest tailwind for major indices following a strong performance on Monday. The optimism is clearly reflected in the commodities complex. Brent crude futures for June delivery declined over 1% to $98.31 per barrel as the prospect of diplomacy reduces the risk premium. Conversely, gold continues to attract interest, with spot gold rising 0.7% to $4,775.57 an ounce, edging closer to the $4,800 mark. Market momentum remains positive following Monday's close, where the Nasdaq surged 1.2% to 23,183.74 and the S&P 500 climbed 1.0% to 6,886.24. Early futures indicate continued modest gains, with the Nasdaq 100 futures leading the advance. Investors are now shifting focus to the domestic economic calendar. The PPI-Final Demand report for March is expected shortly, with a consensus estimate of 1.2% compared to the previous month's 0.7%. Additionally, the market awaits insights from Chicago Fed President Austan Goolsbee and Fed Governor Michael Barr. Global markets have mirrored this bullish tone. In Asia, the Nikkei average rallied 2.43% to 57,877.39, hitting a six-week high, while China's Shanghai Composite index gained 0.95% to 4,026.63.