Stocks Rally as Trump Signals US-Iran Deal Is Near | Closing Bell

Summary

US stocks surged late in the session after President Trump announced a potential deal with Iran that could be signed this weekend, including lifting the Hormuz blockade. Crude oil retreated to $90 as geopolitical fears eased. The rally was broad, with materials, industrials, and semiconductors leading; chip stocks got an extra boost from Oracle's elevated capex and an Intel analyst upgrade. Adobe shares slipped after hours despite a beat, as management changes and competitive AI threats remain in focus.

• S&P 500 up ~2%, Nasdaq 100 up ~3%, Russell 2000 up 3% on US-Iran deal optimism
• Trump says deal with Iran could be signed this weekend, lifting Hormuz blockade
• Iran's semi-official news agency earlier said leaders had not yet approved the text
• Brent crude fell back to $90 as geopolitical supply fears subsided
• Semiconductor index surged nearly 8%, helped by Oracle's data-center capex and Intel upgrade
• Adobe reported a beat and strong guidance but stock turned negative; CFO departures and AI competition are watchpoints
• Airlines gained 8% as beneficiaries of lower oil and reduced geopolitical tensions