Stocks rose, led by technology companies, while oil prices and bond yields fell substantially on hopes that the US and Iran are close to a peace agreement.
Nasdaq 100 futures rose 1.6%, while S&P 500 futures rose 1%, with both measures expected to expand on record highs. Axios reported Wednesday that Washington and Tehran are working on a pact to lay the groundwork for more extensive nuclear discussions. Nothing has been agreed upon yet, and the US wants Iran to respond on critical issues within the next 48 hours, according to the news agency.
Brent fell 9.2% to under $100 per barrel. Government bonds rallied in Europe and the US, with the yield on 10-year Treasuries falling 9 bps to 4.34%. The Dollar fell to its lowest level since February. Gold surpassed $4,700 per ounce, as Bitcoin gained for the seventh consecutive day.
In Japan, the Yen rose to its highest level versus the Dollar in more than two months, fuelling speculation that regulators may have interfered again after stepping in to support the currency last week. It climbed as much as 1.8% to 155.04 per Dollar before settling around 155.80.
Europe’s Stoxx 600 rose 2.4%, powered by auto and leisure firms. Novo Nordisk A/S shares rose as much as 9.2% after its new Wegovy obesity medicine boosted first-quarter sales.
