U.S. Stocks Surge: Dow Soars 702 Points to Hit Record High, Market Bets on U.S.-Iran Agreement to End Conflict

BlockBeats News, June 15th, the U.S. stock market rose on Monday, with investors continuing to digest the expected peace agreement between the U.S. and Iran, leading to a broad-based rally in risk assets.

The Dow Jones Industrial Average rose by 702 points, a 1.4% gain, hitting a new intraday high; the S&P 500 Index rose by 1.9%, and the Nasdaq Composite Index rose by 3%. SpaceX continued its strong performance on its second day of trading, with the stock price rising over 10%, following a 19% gain on its debut.

Market sentiment was boosted by Trump's announcement of the "U.S.-Iran deal completion." The memorandum is expected to be signed in Switzerland on Friday, with the news also triggering a sharp decline in crude oil prices, as U.S. crude fell by about 5% to around $80 per barrel.

U.S. Vice President Pence stated that the Strait of Hormuz is expected to "reopen in the long term through toll-free passage," further easing energy supply concerns. Analysts pointed out that the fall in oil prices helps alleviate inflationary pressures, with the market widely expecting a probability of over 98% that the Fed will keep interest rates unchanged at this week's meeting.