Key keywords: Middle East conflict, Iran ceasefire proposal, US stock futures, Gaza humanitarian crisis, regional security, global financial markets, Israel-Hamas war, oil price volatility As of press time, global financial markets are reacting positively to the latest breakthrough in the long-running Israel-Hamas conflict, after Iran formally submitted a comprehensive 4-point ceasefire proposal to the United Nations Security Council on Thursday local time. The proposal calls for an immediate, unconditional cessation of all military operations across the Gaza Strip, the safe release of all civilian hostages held by all parties, unimpeded delivery of food, medical supplies and other humanitarian aid to the 2.3 million besieged Palestinian residents in Gaza, and the establishment of a multilateral international monitoring team to oversee the implementation of all ceasefire terms. Prior to the proposal’s release, global markets had been under sustained pressure for five consecutive trading days, as escalating clashes between Israeli forces and Iran-backed militia groups across Lebanon, Syria and Yemen raised widespread fears of a full-scale regional war that could disrupt critical oil shipping routes in the Strait of Hormuz, through which 20% of global crude oil supplies pass each day. Those fears were partially alleviated on Thursday, with all three major US stock index futures notching solid gains during premarket trading: Dow Jones Industrial Average futures rose 0.8% to 38,920 points, S&P 500 futures climbed 0.9% to 5,142 points, and tech-heavy Nasdaq 100 futures jumped 1.1% to 16,218 points. Meanwhile, global oil prices retreated from their 3-month high, with Brent crude futures falling 2.7% to $86.1 per barrel, and traditional safe-haven assets including gold and 10-year US Treasury bonds saw mild sell-offs as investor risk appetite returned. UN Secretary-General António Guterres issued a statement shortly after the proposal was made public, praising the move as "a critical first step toward de-escalating tensions and addressing the catastrophic humanitarian situation in Gaza". The US State Department also confirmed that it is reviewing the full text of the proposal, adding that it "supports all diplomatic efforts to end the conflict while protecting Israel’s legitimate right to self-defense". Israeli officials have not yet issued a formal response, but a senior government source speaking on condition of anonymity told Reuters that the country’s security cabinet will convene over the weekend to discuss the proposal in detail. Market analysts note that the current market rally remains fragile, as the success of the ceasefire proposal is still far from guaranteed. A senior strategist at Goldman Sachs warned in a client note on Thursday that if the proposal is rejected by any party, oil prices could surge above $100 per barrel within 72 hours, and US equities could drop by 3% to 5% in a single trading session. Investors are now closely monitoring the UN Security Council’s scheduled vote on the proposal next Monday, as well as official statements from Israeli and Hamas leadership in the coming 48 hours.