Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are rising on Monday after President Trump temporarily suspended plans to strike Iran’s energy infrastructure and said that a peace deal could possibly be reached over the next five days.
Claim 30% Off TipRanks
Trade QQQ with leverageU.S. equities are also getting a boost from falling oil prices, easing inflation fears sparked by the conflict. Brent crude futures (BZ), the international benchmark for oil, are down by 8% at the time of writing.
Trump Calls Off Strikes on Iran
Over the weekend, Trump gave Iran a 48-hour deadline to reopen the Strait of Hormuz, threatening to “obliterate” the country’s power plants if the demand wasn’t met. Trump later said that the two sides held “very good and productive conversations” regarding a peace deal, although Iran’s Foreign Ministry denied engaging in direct negotiations with Trump.
Sources familiar with the situation told Axios that the U.S. and Iran have communicated indirectly over the past two days with Turkey, Egypt, and Pakistan acting as intermediaries.