US stock market today: S&P 500, Nasdaq futures rise as US-Iran peace hopes grow; oil sinks to 2-month low

US stock futures rose on Friday, with S&P 500 futures up 0.6% and Nasdaq 100 and Dow futures each up 0.7%, driven by hopes of a US-Iran peace deal and a rebound in chip stocks. Brent crude fell 3.46% to $87.25/barrel and WTI dropped 3.58% to $84.57, hitting two-month lows as geopolitical tensions eased. A memorandum between the US and Iran could be signed as early as Sunday in Geneva, though analysts warn the full resumption of oil shipments through the Strait of Hormuz faces challenges.