The S&P 500 Index ($SPX) (SPY) today is up +0.44%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.01%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.62%. June E-mini S&P futures (ESM26) are up +0.33%, and June E-mini Nasdaq futures (NQM26) are up +0.55%.
Stock indexes recovered from early losses and are trading mixed, with the S&P 500 and Nasdaq 100 climbing to new all-time highs. Stocks rebounded after Axios reported that the US and Iran reached a deal to extend the ceasefire for sixty days and for negotiations to start on Iran's nuclear program, with President Trump still needing to approve the terms. The memorandum of understanding would state that shipping through the Strait of Hormuz would be "unrestricted," with Iran required to remove all mines from the strait within 30 days. Crude oil prices gave up a +3% advance and are up +1% on the news.
