US-Iranian Hopes Drive Up Stocks; Nvidia Rises Late – US Market Wrap

Oil prices fell on prospects of a settlement to stop the war in Iran, boosting stocks and bonds. Nvidia’s stock climbed late in the day following its results. US crude fell to approximately $98 per barrel on reports that President Donald Trump has stated that Washington is in the “final stages” of talks with Tehran.

The S&P 500 gained 1.1%, snapping a three-day losing trend. Long-term Treasury yields fell from their highest levels since 2007. Following the release of its findings, Nvidia’s shares fell briefly before rising. According to a White House pool report, Trump stated that “we’ll see what happens” with Iran, and that either a deal will be reached or “we’re going to do some things that are a little bit nasty, but hopefully that won’t happen.” Tasnim stated that Iran is analyzing the US’s fresh draft in response to Tehran’s 14-point plan, but has yet to respond. Iran’s President Pezeshkian wrote on X that Iran has “explored every avenue to avert war,” and that “all paths remain open from our side.”

Wall Street’s resurgence followed a dip caused by expectations that a war-related increase in oil costs would exacerbate price pressures. According to the minutes of the Federal Reserve’s most recent policy meeting, the majority of officials warned that if inflation remained persistently over their target, the central bank would likely have to consider raising interest rates.