USA: Stocks Rise Sharply on Iran-US Deal.

US equities were sharply higher on Monday after the US and Iran said they agreed to a deal that ends their war and restores energy exports from the Middle East. The S&P 500 gained 1.5%, the Nasdaq rose over 2%, and the Dow gained over 1%. The deal was set to be signed on Friday, with reports indicating it includes Iran cleaning the Strait of Hormuz from mines and naval blockades being lifted for all exports from the Persian Gulf. Energy prices and bond yields fell, improving macroeconomic conditions and boosting risk demand in the heavyweight tech sector. Nvidia, Amazon, Meta, and Oracle gained around 3%. Meanwhile, SpaceX was 6% higher following its 20% surge on its IPO day last session after CEO Musk signaled it may have $1 trillion in revenue in 2031. Chip producers continued to rally on more cash being raised by AI developers and the influx of orders that translates for AI infrastructure companies. In turn, the defensive sectors were lower, with J&J dropping 2.5%.