ASX set to soar, Wall Street surges, oil dives as Trump says peace deal near; SpaceX prices IPO at $US135 a share

Futures attached to the Dow Jones Industrial Average rose 0.3%, while S&P 500 futures gained 0.4% and Nasdaq 100 futures advanced 0.3%.

Wall Street has closed sharply lower with AI stocks again weighing on the market while escalating tensions in the Middle East are casting doubt on when United States and Iran can reach a deal to reopen the Strait of Hormuz to oil tankers.

In Australia, the S&P/ASX 200 likewise shed 0.2% to 8,632.50.

Among the worries is that their prices have simply shot too high, too fast because of AI mania.