Wall Street markets rise after the United States and Iran reach a preliminary agreement aimed at ending the Middle East war and reopening the Strait of Hormuz, according to reports. Futures and major indexes move upward on expectations that improved conditions around the key shipping route could affect energy supplies and risk sentiment. NDTV reports that Nasdaq futures jump about 2% following the news, while Business News reports the Nasdaq is up roughly 3% and the Dow closes at a record high.
The agreement is also linked to changes in oil prices. NDTV notes that President Donald Trump authorizes the re-opening of the Strait of Hormuz, after which crude oil prices fall sharply. Together, the accounts describe a broad market reaction spanning equities and energy markets, driven by the prospect of reduced geopolitical disruption to a major maritime transit corridor.
Across sources, the common elements are the US-Iran preliminary deal, plans to reopen the Strait of Hormuz, higher US stock indexes (including Nasdaq), and a decline in crude oil prices.
