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(Bloomberg) — Wall Street traders sent stocks higher as oil pared its rally after President Donald Trump said talks with Iran are continuing at a “rapid pace,” adding that Israel and Hezbollah agreed not to attack each other.
While most shares in the S&P 500 fell, the gauge headed toward its eighth straight day of gains. That’s set to be the longest winning streak since May 2025, with tech companies leading the charge. US crude trimmed its jump to 5%, hovering near $91. Treasuries bounced from session lows.
Financial markets continued to get whipsawed by multiple geopolitical headlines after a flare-up in Middle East violence jeopardized negotiations to end the conflict.
Earlier Monday, Iran said it would suspend talks with the US in protest over Israel’s offensive in Lebanon, Tasnim news agency reported, citing a statement. It also threatened a complete closure of the Strait of Hormuz, according to the report.
