Stock futures rose on Monday to kick off the holiday-shortened trading week after President Donald Trump announced that an agreement had been reached to end the war between the U.S. and Iran.

Futures tied to the Dow Jones Industrial Average added 527 points, or 1%. S&P 500 futures climbed 1.4%, while Nasdaq 100 futures popped 2.2%.

International markets also rose. Japan’s Nikkei 225 surged to a record intraday high, ending the trading day 5% higher, while South Korea’s Kospi popped 5.2%. Hong Kong Hang Seng Index climbed 0.5%. In Europe, the Stoxx 600 gained 0.6%.

SpaceX shares popped 5% after soaring 19% in their public market debut on Friday.

Trump said late Sunday on social media that the deal with Iran was “now complete.” Pakistan Prime Minister Shehbaz Sharif said an official signing ceremony would take place on Friday in Switzerland.


Trump also said he authorized the reopening of the key Strait of Hormuz passageway, sending oil prices tumbling on Sunday. U.S. crude
 fell 5% to around $80 per barrel.

Trump’s announcement came after an exchange of fire between Israel and the Tehran-backed Hezbollah in Lebanon raised uncertainty over whether the deal would get across the finish line on Sunday.

The three major U.S. stock averages are coming off a winning week, with sentiment bolstered on Friday by SpaceX
’s record-setting initial public offering. SpaceX ended Friday with a market cap above $2 trillion after a climb of more than 19%.

“A successful SpaceX IPO is generally a positive signal for broader investor interest in innovation and technology,” said Evan Schlossman, principal at SuRo Capital. “It’s a reflection of the demand, interest, and desire to invest in these types of companies.”

Investors are watching for economic data on housing and retail sales this week. They will also closely monitor the Federal Reserve policy meeting, which Fed funds futures indicate has a more than 98% chance of ending with rates unchanged, according to CME’s FedWatch tool.