The S&P 500 surged 1.5% and the Nasdaq jumped 2.4% in Monday trading, as investors cheered President Trump's emerging peace deal with Iran, according to a report by financial commentator Yuval Shadeh on Channel 12. The rally extends gains from earlier in the session as oil prices retreated on expectations of renewed Iranian crude exports.
Wall Street rallied sharply on Monday as markets absorbed the implications of President Trump's finalization of a peace deal with Iran. The S&P 500 rose 1.5% and the tech-heavy Nasdaq gained 2.4%, according to Yuval Shadeh, a financial commentator on Channel 12.
The moves extend a multi-day rally linked to the agreement: as The Zioneer reported earlier Monday (16:34 Jerusalem), the S&P 500 rose 1.3% on lower crude oil prices amid the emerging deal. The agreement was announced by Trump on Thursday night, and Asian markets had already surged in Monday morning trading on the news.
The market optimism centers on the prospect of Iranian oil returning to global markets, which is expected to push crude prices lower and reduce inflationary pressure. The Nasdaq's outsized gains suggest that falling rates expectations, driven by lower energy costs, are supporting growth stocks.
The broader benchmark has now erased most of the losses it suffered last week, when Trump's sudden shift to a threatening posture toward Iran rattled markets. As the Zioneer reported on Wednesday, US futures had dipped as Trump switched to threats. Subsequent progress toward a deal reversed the slide.
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