S&P 500 Futures Rise to 7,468 on U.S.-Iran Breakthrough Hopes

After a sharp 0.60% drop on May 18 that broke the short-term bull channel, the S&P 500 consolidated around the 7,385-7,390 POC zone amid mixed momentum. Optimism from the mid-May U.S.-China summit had earlier lifted the index above 7,500 and the Dow back to 50,000, but debt concerns kept readings neutral. By May 22, hopes of reduced geopolitical risk from U.S.-Iran progress triggered a risk-on rebound, pushing futures 0.30% higher to 7,468.18 and securing the S&P 500’s eighth consecutive weekly gain—the longest streak since December 2023.