US stock market today: S&P 500, Nasdaq futures jump up to 1.7% as oil prices tumble on easing US-Iran tensions

US stock futures traded sharply higher on 27 July with Dow Jones up 1.1%, S&P 500 up 1%, and Nasdaq-100 up 1.7%, as easing US-Iran tensions after weeks of military strikes boosted investor risk appetite. Brent crude fell as much as 12.5% to around $84.65 a barrel and WTI dropped 7% to $82.17, reflecting hopes of normalised shipping through the Strait of Hormuz. Focus now shifts to upcoming earnings from Microsoft, Meta, Apple and Amazon, along with the US Federal Reserve's policy meeting on 28-29 July where rates are expected to remain unchanged.