The S&P 500 Index ($SPX) (SPY) today is up +1.28%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +2.07%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.326%. June E-mini S&P futures (ESM26) are up +1.35%, and June E-mini Nasdaq futures (NQM26) are up +1.38%.
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 -13% 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 oil prices eased inflation concerns and knocked the 10-year T-note yield down -8 bp to 4.23%. Also, optimism about artificial intelligence and robust earnings have added to stock market momentum.
