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U.S. equity indexes rebounded from intraday lows Thursday morning as crude oil prices pulled back after surging nearly 9% early in the session.

Liz Ann Sonders shares her perspective on the U.S. stock market and economy in this monthly Market Snapshot video.

PCE returns data to the front burner after stocks posted a robust rally yesterday in response to a fragile ceasefire. Strait traffic didn't immediately improve but oil plunged.

Stocks have moved into the green following a lower open as investors appear hopeful that the worst of the Iran war is behind us.

Trading today could hinge on any fresh escalation or de-escalation of the war, as well as the impact of oil prices. Stocks were resilient early this week despite war concerns.

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Though stocks soared early on the two-week ceasefire, things aren't back to normal and there's no guarantee oil will stay muzzled. Shipping and supply chains take time to recover.

President Trump's deadline tonight for Iran to re-open the strait or face new attacks could keep investors nervous today, keeping focus on oil. A Treasury auction is also on tap.