GLOBAL MARKETS-Tech lifts US stocks, WTI crude falls on Iran peace deal hopes | Financial News

U.S. stocks extended gains while European shares drifted lower as investors weighed a potential U.S.–Iran peace deal against risks to the ceasefire in the Middle East. The S&P 500 rose about 0.6% and the Nasdaq gained roughly 1.0%, while the Dow slipped around 0.3%. Brent crude rose and WTI fell amid shifting supply dynamics, and price signals were reinforced by news of a fragile truce that could reopen shipping in the Strait of Hormuz if an accord is reached. Treasury yields climbed on persistent inflation concerns, even as markets priced in the possibility of an imminent peace agreement. European gauges fell as traders digested comments from ECB officials urging a June rate hike despite progress toward a pact.