Stocks Rise as Iran Signals Deal With US Is Near: Markets Wrap

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June 12, 2026 - 17:05

3 minutes

(Bloomberg) — Wall Street traders drove stocks higher as oil fell after Iran signaled a deal with the US is approaching, fueling hopes for an end to the war that has roiled global markets.In another volatile session, the S&P 500 extended this week’s advance after Iran’s Foreign Minister Abbas Araghchi says the Islamabad Memorandum of Understanding has “never been closer.” Shadow markets are pricing a blockbuster debut for SpaceX after its record-breaking IPO. US oil fell to $85.The US and Iran moved closer to an interim peace agreement meant to reopen the Strait of Hormuz and help end a war that has damaged the global economy and caused chaos in the Middle East. The countries may sign an agreement on the sidelines of the Group of Seven world leaders summit next week, according to senior officials familiar with the matter.Equities had briefly fallen after President Donald Trump complained about Iran leaking terms of a deal to end their war.“The terms that Iran leaked out to the Fake News have NOTHING to do with the terms that were agreed to, in writing,” President Trump said in a post. “They better get their act together.”Iran’s “drone attack last night against Indian Ships leaving the Hormuz Strait is TOTALLY UNACCEPTABLE,” he also noted on Truth Social.US consumer sentiment rose in early June for the first time in four months as lower gasoline prices provided some relief for Americans grappling with a surge in inflation. Consumers expect prices to rise at an annual rate of 4.6% over the next year, down from 4.8% in May.“We expect inflation pressures to ease after the Iran conflict simmers and the subsequent improvement in supply chains,” said Jeff Roach at LPL Financial. “But if the conflict in Iran remains throughout the summer, we should expect stronger inflation headwinds will put a damper on the growth trajectory.”Corporate Highlights:Adobe Inc. said its chief financial officer would depart, leaving the company without a top tier of veteran leadership after Chief Executive Officer Shantanu Narayen announced in March that he would step aside. Blackstone Inc. is in early-stage talks about an acquisition involving H&R Real Estate Investment Trust, a Canadian owner of apartment buildings and other properties. Flutter Entertainment Plc announced plans to delist from the London Stock Exchange about two years after the online betting group shifted its primary listing to New York, the latest company to abandon the UK bourse to prioritize US trading. Some of the main moves in markets:StocksThe S&P 500 rose 0.5% as of 11:04 a.m. New York time The Nasdaq 100 rose 0.5% The Dow Jones Industrial Average rose 0.9% The Stoxx Europe 600 rose 1.7% The MSCI World Index rose 0.9% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1574 The British pound was little changed at $1.3411 The Japanese yen fell 0.2% to 160.23 per dollar CryptocurrenciesBitcoin rose 0.8% to $63,862.82 Ether rose 0.5% to $1,679.75 BondsThe yield on 10-year Treasuries advanced two basis points to 4.48% Germany’s 10-year yield declined three basis points to 3.00% Britain’s 10-year yield declined six basis points to 4.84% CommoditiesWest Texas Intermediate crude fell 3.1% to $84.98 a barrel Spot gold fell 0.3% to $4,200.65 an ounce ©2026 Bloomberg L.P.