- President Trump announced a “complete” ceasefire deal with Iran late Sunday.
- Major U.S. stock indices surged on the news, led by the tech-heavy Nasdaq.
- The agreement may soon reopen the Strait of Hormuz, causing oil prices to drop sharply.
- Formal talks to finalize the peace deal are set to begin within 60 days.
- SpaceX continued its momentum after a blockbuster IPO pushed its valuation above $2 trillion.
U.S. President Donald Trump declared a breakthrough in geopolitical tensions late Sunday, announcing a ceasefire deal with Iran in a post to Truth Social. However, Iran has not yet officially confirmed the provisional agreement to freeze fighting.
Consequently, financial markets reacted immediately to the prospect of peace. The Nasdaq Composite soared 2.2%, while the S&P 500 and Dow Jones Industrial Average also posted strong gains.
Meanwhile, oil prices plunged more than $4 per barrel on expectations the deal would reopen key shipping routes. “Ships of the World, start your engines. Let the oil flow!” Trump wrote, as shares of Chevron and Exxon Mobil fell 3%.
The two sides are scheduled to meet in Switzerland on Friday to formally sign the interim framework. According to a senior U.S. official, Trump and Vice President JD Vance have already electronically signed it with Iran’s lead negotiator.
Wall Street entered the week with momentum following SpaceX‘s blockbuster public debut. Its shares rose over 8% at Monday’s open, pushing the company’s market value above $2 trillion.
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