New Delhi, June 12 -- US stock futures traded higher on Friday, 12 June, as hopes of a potential peace deal between the US and Iran improved sentiment, while a rebound in chip stocks and a sharp retreat in crude oil prices positioned Wall Street for weekly gains.

S&P 500 futures rose 0.6%, extending their rally into a second straight session. Nasdaq 100 futures and Dow Jones Industrial Average futures each advanced 0.7%. In the previous session, all three major indices ended sharply higher, gaining up to 2.5%, supported by a strong rebound in semiconductor stocks.

Market sentiment, which has remained fragile since last week, improved after US President Donald Trump said on Thursday that he had called off planned military strikes on Iran...