Benchmark S&P 500 rises 1.7 percent, while tech-heavy Nasdaq jumps 3.1 percent. Published On 16 Jun 202616 Jun 2026US stocks have rallied on hopes that the tentative deal to end the US-Israel war on Iran will restore stability to energy supply chains roiled by months of disruption in the Strait of Hormuz.The S&P 500 rose 1.7 percent on Monday, taking the benchmark index within touching distance of its all-time high.Recommended Stories list of 4 itemsend of listThe tech-focused Nasdaq Composite jumped 3.1 percent, aided by a 19.6 percent gain by SpaceX, which on Friday made the biggest market debut in history and minted the world’s first trillionaire in Elon Musk.The blue-chip Dow Jones Industrial Average climbed 0.9 percent, closing at a record high.Brent crude futures, the primary benchmark for global oil prices, fell nearly 5 percent to just above $83 a barrel, the lowest price since the first week of the conflict.Asian stock markets continued the rally on Monday after a slow start to the morning, adding to gains racked up the previous day on the back of US President Donald Trump’s deal with Tehran.Japan’s Nikkei 225 briefly hit the 70,000 threshold for the first time ever before easing, leaving the benchmark index hovering around 0.6 percent as of 04:45 GMT.South Korea’s KOSPI, the best-performing major index this year, was up more than 2.1 percent.Taiwan’s TAIEX was up 0.6 percent, while the Hang Seng Index in Hong Kong was down 1.25 percent.Jay Goldberg, a senior analyst for tech-related equities at the Chicago-based Seaport Research Partners, said the announcement of t …
