Traders work on the ground on the New York Stock Exchange (NYSE) in New York City, U.S., March 18, 2026.
Brendan McDermid | Reuters
S&P 500 futures and oil futures flashed an uncommon burst of exercise early Monday minutes before a market-moving social media post from President Donald Trump.
At round 6:50 a.m. in New York, S&P 500 e-Mini futures buying and selling on the CME recorded a pointy and remoted bounce in quantity, breaking from an in any other case subdued premarket backdrop. With skinny liquidity typical of early buying and selling hours, the sudden burst stood out as one of many largest quantity moments of the session as much as that time.
An identical sample was noticed in oil markets. West Texas Intermediate May futures additionally noticed a noticeable pickup in buying and selling exercise at roughly the identical time, with a definite quantity spike interrupting in any other case quiet situations.
Roughly 15 minutes later, at 7:05 a.m., Trump mentioned on Truth Social that the U.S. and Iran had held talks and that he was halting deliberate strikes on Iranian energy vegetation and power infrastructure. That announcement prompted an immediate rally in danger belongings, with S&P 500 futures hovering greater than 2.5% before the opening bell. West Texas Intermediate futures dropped almost 6% following the announcement.
The timing of the sooner quantity spikes throughout each equities and crude caught the eye of merchants, significantly given the absence of an apparent catalyst in the intervening time they occurred.
Early-morning futures markets are usually much less liquid, which may make brief bursts of shopping for and promoting extra noticeable than throughout common buying and selling hours. Still, the trades raised some eyebrows as a result of whoever bought a considerable amount of inventory futures and offered or shorted crude futures at that second made some huge cash simply minutes later.
The U.S. Securities and Exchange Commission and the CME Group declined to remark.
Algorithmic and macro-driven methods may generate speedy flows throughout asset courses with out a single identifiable catalyst in early buying and selling.
— With help from CNBC’s Fred Imbert.
