Daily Updates

US stocks saw more losses last night, while Treasury yields surged in reaction to hawkish communication from the Fed. Oil prices declined a little further amid the news this morning that the US and Iran had signed a memorandum of understanding on a 60-day ceasefire.

US stocks were mixed last night, with the S&P 500 dragged down by a drop in tech-stocks, while the Dow Jones rose to a fresh record high. Oil prices resumed falling after reports that the US-Iran deal will most likely allow Iran to begin selling its oil in the global markets immediately after the sanctions are lifted.

Hopes for a ceasefire deal continued to fuel the stock market rally on Monday night, with all three major US stock indices closing higher. The S&P 500 and Nasdaq surged by 1.7% and 3.1%, respectively, while the Dow Jones reached a fresh record high after a 0.9% gain. The rally was led by information technology, while energy stocks saw a large drop.

Global stocks rose on Friday, supported by hopes for a peace deal between the US and Iran. The S&P 500 saw a broad-based gain of 0.5%, which followed increases in Europe and across the Asia-Pacific region. Market sentiment was also supported by a record-breaking initial public offering by SpaceX, which made it the sixth most valuable US-listed firm within just one day.

US equities were relatively steady in the first half of the overnight session as traders awaited news from the Middle East amid signs the war is escalating again. However, the market jumped in the second half of the session after the US President announced that he had called off planned strikes and that a peace deal with Iran is near.

The declines on Wall Street deepened last night, while oil prices picked up as the conflict in the Middle East re-escalated further.