U.S. markets skyrocketed on Monday and oil prices dropped as a breakthrough in the U.S.-Iran war seemed to come to light, signaling the reopening of the Strait of Hormuz.
President Trump late Sunday claimed that the U.S. has reached a ceasefire deal with Iran, and the deal will be signed on June 19th in Switzerland.
Oil prices sank, will Brent crude futures down almost 5% to $83 a barrel. Meanwhile, West Texas Intermediate futures fell over 5%, holding above $80 a barrel.
Tech stocks like Intel, AMD, and Nvidia soared as investors are moving their money from safety stocks into growth equities.
This deal is pouring more money into the market as it’s providing certainty. Hopefully nothing happens between today and Friday, the market is surging and with this momentum we can easily see the S&P 500 end the year above 8,000.
