The S&P 500 Index ($SPX) (SPY) today is up +0.87%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +1.33%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.86%. June E-mini S&P futures (ESM26) are up +0.93%, and June E-mini Nasdaq futures (NQM26) are up +0.88%.
Stock indexes are pushing higher today, with the S&P 500 and Nasdaq 100 posting new all-time highs and the Dow Jones Industrials posting a 7-week high. Stocks are rallying today on mounting speculation that a deal to end the US-Iran war is near, sparking risk-on sentiment in asset markets. Crude prices are down more than -10% after Iran announced that the Strait of Hormuz is now "completely open" for commercial shipping, a major step toward ending the war with the US and Israel. The plunge in crude eases inflation concerns and knocked the 10-year T-note yield down -6 bp to 4.25%. Also, optimism about artificial intelligence and robust earnings have added to stock market momentum.
