S&P 500 and oil futures experienced unusual pre-dawn spikes before Trump's announcement on Iran talks, leading to significant market movements.
At around 6:50 a.m. in New York, S&P 500 e-Mini futures trading on the CME recorded a sharp and isolated jump in volume. A similar pattern was observed in oil markets.
Roughly 15 minutes later, at 7:05 a.m., Trump sent a market-moving announcement about Iran on Truth Social.
The timing of the earlier volume spikes across both equities and crude caught the attention of traders, particularly given the absence of an obvious catalyst at the moment they occurred.
Early-morning futures markets are typically less liquid, which can make short bursts of buying and selling more noticeable than during regular trading hours.