US stocks were set to surge at the opening bell Monday, after President Donald Trump announced that he was postponing all military strikes on Iranian power plants for a 5-day period. Iranian state media responded to Trump’s post by saying the US president has “backed down” after Iran’s firm response. Iran’s semi-official Mehr news agency also relayed a message from the nation’s foreign ministry that, “there is no dialogue between Tehran and Washington.” S&P 500 and Nasdaq futures initially soared about 3% on Trump’s post, but those gains faded to about 1.6% after the statements from Iranian media. …Oil prices also fell about 5%, with U.S. crude oil trading down to around $92 per barrel around 8:15 a.m. ET. International Brent crude oil fell to around $105 per barrel. Initially, oil prices had plummeted 10% on Trump’s post.