-- Wall Street futures spiked north pre-bell Wednesday, after the US and Iran agreed to a two-week ceasefire that could lead to oil-tankers again transiting the Strait of Hormuz.
In the futures, the S&P 500 rose 2.7%, the Nasdaq inclined 3.5% and the Dow Jones was up 2.6%.
West Texas Intermediate crude oil futures traded lower at $94.52, down 16.3% from Tuesday.
Tech and travel issues especially rose pre-bell, with circuit-board maker Micron (MU) gaining 10%, while cruise-line Carnival (CCL) rose 10.2%.
Delta Air Lines (DAL) rose 12.2% in morning trades after reporting Q1 earnings and revenue above Street views, and issuing tempered but relatively positive guidance.
Traders also await the 2 pm ET release of minutes of the most-recent Federal Reserve policy session, held March 17 to 18, and sure to be parsed for clues to the central bank's thinking.
Asian exchanges rallied overnight, led by a 6.9% rise on Seoul's KOSPI index, while European bourses tracked sharply higher midday on the continent.
On the economic calendar, in addition to the Fed minutes, is the weekly EIA petroleum status report at 10:30 am ET.
In premarket action, Bitcoin traded at $71,658 and 10-year US Treasuries offered 4.24%. Spot gold commanded $4,782 an ounce.