Dow Jones Hits Record, Nasdaq Jumps 3% as Iran Deal Lifts Markets
Stocks surged Monday on news of a U.S.-Iran ceasefire deal. SpaceX added another $239 billion in market cap for good measure.
Dow Jones Hits Record, Nasdaq Jumps 3% as Iran Deal Lifts Markets
Overview
Wall Street rallied Monday as investors digested news of a preliminary peace agreement between the U.S. and Iran.
The Dow Jones Industrial Average (DJINDICES: ^DJI) rose 1.4% just before 1 p.m. ET, hitting a fresh all-time intraday high. The S&P 500 (SNPINDEX: ^GSPC) climbed 1.9%, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) led with a 3% gain. Meanwhile, oil prices fell sharply and the United States Oil Fund (NYSEMKT: USO) dropped 4.5%.
Details
The agreement, announced late Sunday, would extend the U.S.-Iran ceasefire for 60 days. It would also lay the groundwork for final negotiations on Tehran's nuclear program. If all goes as planned, this initial deal is set to be signed on Friday in Geneva, setting the stage for the conflict's endgame.
Source
Originally published at www.fool.com.
