As of today, the S&P 500 Index is up 1.28%, the Dow Jones Industrial Average has increased by 2.07%, and the Nasdaq 100 Index has risen by 1.326%, marking new all-time highs for the S&P 500 and Nasdaq 100. Stocks are rallying due to speculation on a potential US-Iran peace deal, which has also caused crude oil prices to plummet more than 13%, easing inflation concerns and reducing the 10-year T-note yield to 4.23%.
Discussions between the US and Iran over a plan to end their ongoing war are set to continue in Pakistan this Sunday. The negotiations reportedly include the US releasing $20 billion in frozen Iranian assets in exchange for Iran relinquishing its stockpile of enriched uranium. President Trump indicated that Iran has made concessions, suggesting the possibility of a formal peace agreement as Israel and Lebanon observe a 10-day ceasefire.
In the markets, airline stocks are soaring following the drop in crude prices. Alaska Air Group and United Airlines have increased by more than 14% and 11% respectively. Meanwhile, energy stocks are facing declines, with major players like APA Corp and Valero Energy dropping over 10%. Bitcoin also saw a rise of more than 3%, reaching a 2.5-month high.
