This content was published on
June 9, 2026 - 16:01
4 minutes
(Bloomberg) — A rebound on Wall Street powered ahead, with stocks joining bonds higher as oil fell amid hopes the US and Iran are getting closer to a deal to end the war that has rattled global markets.In the wake of last week’s artificial-intelligence rout, the S&P 500 saw a back-to-back advance. Most major groups rose on Tuesday, with investors piling back into the hardest-hit sectors during the recent selloff. A key gauge of chipmakers climbed 2%. A drop in US crude below $90 eased concerns about higher energy costs that would fuel inflation, driving Treasury yields lower.President Donald Trump renewed his claims of momentum toward ending the conflict with Iran, after brokering a halt to hostilities between Israel and the Islamic Republic and easing tensions that had threatened to derail broader peace talks.“We’re in the final throes of what will be a very, very good deal,” Trump told reporters in New York. “We could have at least an idea one or two days from now.”Meantime, a recovery in the AI trade carried into a second day. US stocks have further to run as corporate earnings growth underpins sentiment despite some signals suggesting equities may have risen too far, JPMorgan Asset Management’s Jack Caffrey said.“This is really an earnings-driven story,” he said Tuesday on Bloomberg Television’s Surveillance. “I am still constructive on this equity market.”“We remain buyers on the dips,” said Robert Edwards at Edwards Asset Management. “Sharp pullbacks have been met with aggressive buying because investors, despite the noise, know that strong fundamentals, including strong revenue and earnings growth, remain in place.”Friday’s equity selloff raised questions about the roadmap into summer, specifically around potential profit-taking and rotation, according to Bret Kenwell at eToro.“As much as we love to see tech’s leadership, it would be constructive to see this rally broaden out to other sectors,” he said. “When leadership is concentrated in one corner of tech, the market’s foundation gets a little wobblier.”Despite the rebound in equities, Kenwell says the durability of the move remains an open question. Wednesday’s inflation report could steer the market’s short-term direction while next week’s Federal Reserve decision may have a more lasting impact until earnings season starts up in July, he added.Corporate Highlights:Apple Inc. said it isn’t able to launch Siri AI, its redesigned digital assistant, on iPhones, Apple Watches or iPads in the European Union, marking the company’s latest standoff with the continent’s antitrust watchdog. Jelly and coffee maker JM Smucker Co. posted fourth-quarter profits that beat Wall Street expectations as higher prices helped boost the packaged food company. Stellantis NV is recalling more than 1 million Jeep vehicles in the US over an electrical issue that could result in a fire, saying that owners should park outside and away from other cars until the problem is fixed. GSK Plc agreed to buy Nuvalent Inc. for $10.6 billion, securing a US biotech firm developing treatments for lung cancer as part of the British pharmaceutical company’s effort to rebuild its oncology franchise. Vail Resorts Inc. cut its net income guidance for the full year, attributing the reduction to “historically challenging” weather conditions in the western US. Some of the main moves in markets:StocksThe S&P 500 rose 0.8% as of 10 a.m. New York time The Nasdaq 100 rose 0.8% The Dow Jones Industrial Average rose 0.8% The Stoxx Europe 600 rose 0.7% The MSCI World Index rose 0.8% CurrenciesThe Bloomberg Dollar Spot Index fell 0.2% The euro rose 0.3% to $1.1568 The British pound rose 0.4% to $1.3399 The Japanese yen was little changed at 160.21 per dollar CryptocurrenciesBitcoin fell 1.8% to $62,339.11 Ether fell 1.1% to $1,670.51 BondsThe yield on 10-year Treasuries declined two basis points to 4.54% Germany’s 10-year yield declined one basis point to 3.05% Britain’s 10-year yield declined three basis points to 4.91% CommoditiesWest Texas Intermediate crude fell 3.6% to $87.99 a barrel Spot gold was little changed ©2026 Bloomberg L.P.
