Wall Street Surges on US-Iran Deal and Plummeting Oil Prices

Wall Street saw significant gains as the Nasdaq climbed 3% and the Dow hit a record high following a US-Iran agreement to end the Middle East war. This development, alongside falling oil prices, eased inflation fears and boosted technology and transport stocks, with the energy sector lagging.

Wall Street experienced a notable rally on Monday, propelled by a preliminary agreement between the United States and Iran aimed at ceasing Middle East hostilities. This development led to a decrease in crude oil prices, subsequently alleviating inflation concerns.

The Nasdaq observed a 3% climb while the Dow Jones Industrial Average concluded at a record high. Despite the deal not addressing all pivotal issues, such as Tehran's nuclear program, it provided a comforting backdrop for investors as crude futures fell by nearly 5%.

Technology stocks witnessed a surge as risk appetite increased amid lower oil prices. In contrast, energy stocks faced declines. The optimistic sentiment was further bolstered by the Federal Reserve's upcoming policy meeting, while high-profile IPOs, including SpaceX, also fueled market enthusiasm.