Market Optimism Rises Amid U.S.-Iran Peace Hopes

U.S. stocks rise, leading global indices higher as hopes grow for a U.S.-Iran peace resolution. A tech-led rally bolstered markets amid a fragile ceasefire extension, while U.S. and Iranian negotiations continue. Oil prices retreated, and U.S. Treasury yields fell, reflecting market optimism and reduced tensions.

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U.S. stocks rose, spurred by hopes for a peaceful resolution to the U.S.-Iran conflict. A tech-driven rally led major indices to modest gains, with the S&P 500 achieving its longest weekly winning streak since December 2023.

Despite the rally, all three major indices closed below session highs as the markets grappled with ongoing geopolitical tensions. The U.S. and Iran agreed to maintain a temporary ceasefire, and may lift shipping restrictions, amid peace negotiations. However, the agreement remains pending approval from U.S. President Donald Trump.

Brent crude prices fell as investors anticipated further developments in peace talks. Meanwhile, U.S. Treasury yields declined, marking a week of optimism fueled by progress in U.S.-Iran negotiations. Gold prices rose on ceasefire optimism but stayed on track for a monthly dip.

(With inputs from agencies.)