New York, 29 May 2026 – Wall Street’s rally gathered pace as the S&P 500 and Nasdaq closed at record highs, supported by reports that the United States and Iran had reached a draft agreement to extend their ceasefire, easing immediate concerns over energy-market disruption and lifting investor appetite for risk assets.
The rally reflected a sharp improvement in market sentiment after weeks of volatility linked to the Gulf conflict, oil-price swings and inflation fears. Investors have been closely watching whether diplomatic progress between Washington and Tehran can reduce the risk premium in crude oil and stabilise expectations around US interest rates.
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