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The Economic Times
The Economic Times

US stocks: Dow hits record high on Iran deal optimism, lower oil prices

Wall Street's main indexes rose on Monday, with the Dow touching an intraday high after the United States and Iran struck a preliminary agreement to end their war and reopen the Strait of Hormuz, leading to a sharp fall in crude prices.

The framework for a deal, however, did not address key issues such as Tehran's nuclear program and the conflict between Israeland Lebanon. The pact ‌is expected to ⁠be formally ⁠signed in Switzerland on Friday.

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