Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) secured new intraday all-time highs on Friday after Iran announced that the Strait of Hormuz is “completely open” for commercial vessels. The waterway will remain open for the duration of the 10-day Israel-Lebanon ceasefire.
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New trading tool for QQQ bullsBrent crude oil futures (BZ) plummeted 10% following the announcement, easing inflation concerns. At the same time, Brent is still up by 30% since the war began on February 28.
Trump Optimistic on U.S.-Iran Peace Deal
The next round of U.S.-Iran peace talks could come as soon as this weekend, President Trump said earlier this week. However, key differences remain between the two sides, including the future of Iran’s nuclear program and stockpile of enriched uranium.
Trump is optimistic that a deal could be “announced fairly soon” and said that Iran had already agreed to concessions that it had previously rejected.