This content was published on
June 1, 2026 - 11:08
4 minutes
(Bloomberg) — Stocks locked in fresh gains on Monday, withstanding a rebound in oil prices as the US and Iran remained deadlocked over a peace deal.Futures signaled new all-time highs for US equities as June got underway after a breakneck rally in chipmakers drove the S&P 500 to 11 record closes in May. Contracts on the benchmark rose 0.3%, matching gains in Nasdaq 100 futures. European stocks fell 0.1%. In Asia, SoftBank Group Corp. surged 14% to overtake Toyota Motor Corp. as Japan’s most valuable company.Brent headed for its first daily gain in four sessions. The benchmark rose 3.5% to above $94 a barrel as it remained unclear whether the US and Iran were making progress on a deal for a lasting ceasefire and the resumption of flows through the Strait of Hormuz. Bonds fell, with the 10-year Treasury yield rising three basis points to 4.47%.The outlook for a US-Iran agreement clouded after Israel stepped up its offensive against Tehran-backed Hezbollah in Lebanon. Iran struck a Kuwaiti air base over the weekend, while the US conducted “self-defense strikes” on Iranian radar and command and control sites for drones.The two sides exchanged messages seeking amendments to a draft deal over the weekend. President Donald Trump urged calm, saying the situation will work out well. Iran said Israel’s attacks on Lebanon were preventing an agreement.“Markets need an agreement to open the Strait of Hormuz, to provide the next leg higher in equities and lower in rates,” Jefferies strategist Mohit Kumar told clients. “We still believe that we should get a leg higher when a deal is finally agreed upon.”What Bloomberg Strategists Say“A peace deal could still emerge this week, but with markets already heavily positioned for that outcome, the balance of risks appears skewed toward disappointment. Oil is already edging up today and any further delays or setbacks leave prices vulnerable to a sharper move higher.”— Skylar Montgomery Koning, macro strategist. For the full analysis, click here.Corporate News:Nvidia Corp. is entering the PC market with a new chip aimed at loosening the stranglehold of Intel Corp. technology in that arena and modernizing the machines for the AI era. Nvidia said Anthropic PBC, OpenAI and SpaceX are among the first big users of its upcoming microprocessor, securing key customers for its latest attempt to expand an already extensive footprint in AI data centers. EasyJet Plc shares jump as much as 13% to the highest in three months after Castlelake said late Friday that it is considering an offer for the UK budget carrier. Berkshire Hathaway Inc. will acquire Taylor Morrison Home Corp. in an all-cash deal worth about $6.8 billion, the first major purchase under chief executive Greg Abel and a vote of confidence in the US housing market. Some of the main moves in markets:StocksThe Stoxx Europe 600 was little changed as of 10:05 a.m. London time S&P 500 futures rose 0.3% Nasdaq 100 futures rose 0.3% Futures on the Dow Jones Industrial Average rose 0.3% The MSCI Asia Pacific Index rose 0.9% The MSCI Emerging Markets Index rose 1.4% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1656 The Japanese yen fell 0.1% to 159.46 per dollar The offshore yuan was little changed at 6.7646 per dollar The British pound rose 0.1% to $1.3472 CryptocurrenciesBitcoin fell 1% to $72,884.79 Ether fell 1.1% to $1,983.08 BondsThe yield on 10-year Treasuries advanced three basis points to 4.47% Germany’s 10-year yield advanced five basis points to 2.98% Britain’s 10-year yield advanced four basis points to 4.85% CommoditiesBrent crude rose 3.2% to $94.05 a barrel Spot gold fell 0.9% to $4,500.10 an ounce This story was produced with the assistance of Bloomberg Automation.–With assistance from Neil Campling.©2026 Bloomberg L.P.
