Updated August 3 at 2:03pm

Stock-index futures advance on nuclear agreement with Iran

U.S. stock-index futures gained, indicating the Standard & Poor’s 500 Index will extend its record, as Iran agreed to limit its nuclear program.

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Stock-index futures advance on nuclear agreement with Iran

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LONDON – U.S. stock-index futures gained, indicating the Standard & Poor’s 500 Index will extend its record, as Iran agreed to limit its nuclear program.

Alcoa Inc. climbed 3.5 percent and Caterpillar Inc. rose 1.7 percent after analysts recommended buying the shares. Delta Air Lines Inc. rallied 2.3 percent as crude slid. Barrick Gold Corp. and Newmont Mining Corp. dropped at least 1.4 percent after the price of gold retreated. Qualcomm Inc. lost 1.3 percent as the company said a Chinese agency started a probe related to an anti-monopoly law.

Futures on the S&P 500 expiring in December advanced 0.3 percent to 1,807.20 at 7:45 a.m. in New York. Dow Jones Industrial Average contracts added 64 points, or 0.4 percent, to 16,091 today.

“Some of the risk premium has been taken out because of the Iran deal,” Henk Potts, who helps oversee about $310 billion as a strategist at Barclays Plc’s wealth-management business in London, said by telephone. “The agreement creates a reduction in terms of global risk and is seen as beneficial for global markets. High commodity prices are one of the key costs to businesses and consumers so a decline in oil equates to lightening up the tax burden.”

Brent crude, gasoline and heating oil all fell by more than 1.3 percent today following the accord with Iran. Gold futures declined 1.2 percent.

Iran accord

Iran agreed to limit its nuclear program in exchange for as much as $7 billion in relief from economic sanctions over six months. Iranian Foreign Minister Mohammad Javad Zarif and U.S. Secretary of State John Kerry announced the agreement yesterday after five days of talks in Geneva.

Barrick Gold dropped 1.8 percent to $16.09 and Newmont Mining retreated 1.4 percent to $25.38. Delta rose 2.3 percent to $29.25 and United Continental Holdings Inc. gained 1.5 percent to $39.10 to pace gains among airlines.

us stock index, standard and poor, Iran nuclear agreement, Caterpillar Inc, Alcoa Inc, Qualcomm, Mohammad Javad Zarif, John Kerry, National Association of Realtors, Federal Reserve,
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