The S&P 500 index rallied 1.7% for its biggest gain in two months, driven by hopes that a US-Iran deal could restart Iranian oil exports, market reports say. The surge follows a volatile day after President Trump's earlier threats against Iran and a separate market dip on US futures.
The S&P 500 closed up 1.7% in its best session in two months, as traders priced in growing expectations that a US-Iran nuclear and oil deal may be finalized in the coming days. The rally marks a sharp reversal from earlier in the week, when US futures dropped on President Trump's threats against Iran and oil surged above $93 a barrel. As The Zioneer reported earlier tonight, Trump said the deal documents are in a 'fairly final stage' and that signing could take place in Europe. The market move was triggered by hopes that a deal would restart Iranian oil exports, potentially easing supply constraints after recent sanctions and tensions around the Strait of Hormuz.
The 1.7% gain reflected broad buying across sectors, with energy and industrial stocks leading. The move was the largest single-day gain since early April. The rally remained contained, however, as traders await confirmation of a signed agreement. The S&P 500's gains closely tracked headlines from White House briefings and Israeli media reports on the emerging understanding.
The bullish sentiment was also supported by a reported S&P 500 rally that followed an earlier dip on the same day tied to Trump's shift from deal-making to threats. Market participants are now watching for any further statements from the White House or Iranian officials that could confirm or disrupt the expected deal timeline.
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