S&P 500 Climbs as Trump Teases ‘Good Chance’ of Iran Deal

The S&P 500 (SPX) opened higher on Monday as investors weigh the prospects of a ceasefire between the U.S. and Iran.

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President Trump told Axios that the U.S. is in “deep negotiations” with Iran. However, he also said the country’s power plants and bridges could be targeted if the Strait of Hormuz isn’t reopened by Tuesday at 8 p.m. Eastern Time. “There is a good chance, but if they don’t make a deal, I am blowing up everything over there,” he said.

Pakistan, Egypt, and Turkey Facilitate Ceasefire Discussions

The two sides have communicated indirectly in recent days, with Pakistan, Egypt, and Turkey serving as mediators. One proposal includes a two-phase deal that would begin with a 45-day ceasefire followed by negotiations to end the war. The ceasefire could be extended if more time is needed.

The mediators told Iranian officials that the next 48 hours ahead of the deadline are crucial and could be the last opportunity before Iran faces significant damage. However, the officials have publicly maintained their hardball approach.