Wall Street Surges on U.S.-Iran Deal, Dow Hits New Highs

Wall Street indexes rose on Monday as the Dow reached an intraday high following a preliminary U.S.-Iran agreement potentially ending their war. The pact led to a drop in crude prices, aiding airline and cruise stocks while negatively affecting energy shares. Tech stocks led gains amid easing inflation concerns.

Wall Street's main indexes saw gains on Monday, with the Dow Jones Industrial Average achieving an intraday high. This surge follows a preliminary agreement between the United States and Iran aiming to end their ongoing conflict, leading to a notable decrease in crude oil prices.

The tentative deal did not tackle crucial issues regarding Tehran's nuclear initiatives and tensions between Israel and Lebanon. Crude prices dropped by around 5%, reaching their lowest since March, positively impacting energy-dependent airline and cruise stocks, but adversely affecting energy shares.

The easing of oil prices could provide the Federal Reserve with more flexibility to address inflation, as equity markets look forward to a more conducive environment. Key stock indexes marked a third consecutive day of gains, bolstered by high performance in technology shares and reduced geopolitical tensions.