Global Markets Rally on US-Iran Peace Deal Hopes
Global Markets Climb on Hopes for US-Iran Peace Deal
Stocks rose and bond yields eased on Friday as investors weighed signs of progress in talks to end the Middle East conflict.
Equities Reach Record Highs
The Dow Jones Industrial Average gained 0.58% to a record close of 50,579.70. The S&P 500 added 0.37%, and the Nasdaq inched up 0.19%. Europe's STOXX 600 finished 0.73% higher at 625.12, its biggest weekly gain in seven. Japan's Nikkei soared 2.7% to a record close of 63,339.07.
Asian Markets Mostly Positive
China's CSI300 Index rose 1.3% but posted a weekly loss. Hong Kong advanced on Lenovo's strong results. South Korea's KOSPI ended up 0.41% at 7,847.71. Australian shares were set to open lower after Trump urged no rush in Iran deal.
Currency and Bond Markets
The dollar held near six-week highs. The two-year US Treasury yield edged up. The euro rose to 1.1636. The yuan weakened slightly amid war-induced inflation worries. The Australian dollar slipped on conflicting peace deal signals.
Commodities: Gold Falls, Oil Rises
Gold dropped for a second straight week as oil prices kept inflation fears alive. Brent crude settled at $103.54 a barrel. Iron ore declined on rising supply and weak demand. Copper rose due to falling inventories. Palm oil rebounded on bargain buying. Rubber fell on expectations of higher supply.
Impacted Symbols
Symbols affected by this headline and their sentiment signals
Iron ore prices faced a second weekly decline on expectations of rising supply and seasonally weakening demand.
Dow Jones Industrial Average Index
The Dow Jones closed at a record high, buoyed by optimism over a Middle East peace deal and strong corporate earnings.
S&P 500
The S&P 500 gained on progress in peace talks and positive earnings reports.
Japan 225 Index
The Nikkei closed at a record high, supported by a rally in U.S. AI shares and peace optimism.
U.S. DOLLAR / CHINESE YUAN
The yuan weakened slightly against the dollar, with limited impact from global developments.
Copper rose on falling inventories, with uncertainty in peace talks providing limited support.
NASDAQ Composite Index
The Nasdaq rose as tech stocks advanced on expectations of reduced geopolitical risks.
STOXX 600
European shares reached their highest in over a month, driven by peace deal hopes and gains in technology stocks.
Chinese stocks bounced but logged a weekly decline as profit-taking in tech shares offset global optimism.
S&P/ASX 200 Index
Australian shares are expected to open lower after Trump instructed representatives not to rush into an Iran agreement.
KOSPI Composite Index
The KOSPI rose on optimism surrounding U.S.-Iran peace talks, ending the week higher.
U.S. Dollar Currency Index
The dollar index hovered near six-week highs amid peace deal uncertainty and inflation worries, with limited direct impact from the news.
AUD/USD
The Australian dollar slipped due to conflicting signals on the peace deal and fluctuations in commodity prices.
U.S. DOLLAR / SOUTH KOREAN WON
The Korean won weakened against the dollar with limited impact from the peace talks.
GOLD (US$/OZ)
Gold fell for the second straight week as rising oil prices fueled inflation and rate hike concerns.
Brent crude climbed on worries that a U.S.-Iran peace deal would not materialize, keeping supply disruptions in the Strait of Hormuz.
WTI crude oil rose as uncertainty over the peace deal heightened supply concerns.
Rubber futures fell due to expectations of higher supply from Thailand and increasing Chinese butadiene rubber supply, with limited direct impact from the news.
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