Stocks Soar on US-Iran Peace Agreement

Stocks surged after the US-Iran peace agreement, sending major indices to multiday highs and fueling a risk-on atmosphere across markets. The S&P 500 rose 1.62%, the Dow gained 1.09%, and the Nasdaq 100 climbed 2.73%, while June E-mini futures also advanced about 1.6%. Oil prices slid more than 5% to a three-month low, and global bond yields eased, helping equities extend gains as investors priced in a potential de-escalation. Market participants awaited the peace signing in Switzerland and the start of roughly 60 days of talks on Iran's nuclear program, with the possibility of renewed military action if negotiations stall. Tech shares led the upside, while airline stocks benefited from cheaper fuel as crude oil slid, offsetting declines in energy producers. Among domestic data, the Empire State manufacturing index fell to 5.7 in the latest survey, down 13.9 points, and May industrial production was unchanged, undershooting expectations. Meanwhile, the 10-year Treasury yield dipped to around 4.42%, with European yields moving lower and foreign markets rebounding alongside U.S. equities. Global bourses rose in tandem, led by Europe and Asia.