This content was published on
June 15, 2026 - 16:00
5 minutes
(Bloomberg) — Stocks climbed around the world, joining gains in bonds as oil slumped after the US and Iran agreed to reopen the Strait of Hormuz, fueling hopes for an end to the conflict that has roiled markets.Stronger risk appetite extended a surge in equities from war-driven lows, with the S&P 500 rising about 1.5%. Beaten-down technology companies led gains on Monday. US crude declined to around $80, easing inflation concerns. Treasury yields fell as bets on Federal Reserve interest-rate hikes receded. The dollar dropped against most major currencies. Bitcoin topped $66,000.While the details of the interim agreement between US and Iran aren’t yet clear, President Donald Trump said in social-media posts he was authorizing the “toll free opening” of Hormuz, as well as ending a naval blockade, with the waterway set to reopen when the deal is signed Friday. Iran’s Fars news agency said transits would be free of charge for 60 days.Qatar, the main mediator along with Pakistan, will host US and Iranian delegations this week to hammer out the details of the signing and plan for a new round of negotiations over Iran’s nuclear program, according to several people familiar with the matter.“The agreement between the US and Iran is a major breakthrough,” said Michael Landsberg at Landsberg Bennett Private Wealth Management. “While the nature of the deal could bring about further breakdowns between the sides over the next two months, especially surrounding the major sticking point of removing Iran’s nuclear material, the reopening of the Strait will help push oil prices down.”US stocks could get an additional boost from a rotation into cyclical, economically-sensitive industries that have lagged in the Iran war, according to Morgan Stanley strategists led by Michael Wilson.JPMorgan Chase & Co.’s Mislav Matejka echoed the bullish view, saying the rotation into cyclicals is “on track to remain a winning strategy” through year-end, provided geopolitical tensions ease and earnings and inflation remain stable.The equity market may have started the week with a boost from the US-Iran deal and tumbling oil prices, but it will quickly search for a new source of momentum, according to Chris Larkin at E*Trade from Morgan Stanley.While that won’t come in the form of a Fed rate cut, this week’s policy meeting will still be an opportunity for investors to get a read on how new Chair Kevin Warsh may pursue his longer-term agenda, he said.“We will be keeping a close eye on how views around the Fed, interest rates, and inflation are adjusted in the weeks ahead, as this had become one of the more concerning issues we’ve been monitoring,” said Lori Calvasina at RBC Capital Markets.Corporate Highlights:SpaceX jumped in its second day of trading, adding to gains following a blockbuster debut that instantly vaulted it into the ranks of the world’s most valuable public companies. Nvidia Corp. is seeking to raise at least $20 billion from its first corporate bond sale since 2021, according to people with direct knowledge of the matter. Fox Corp. agreed to acquire Roku Inc. in a deal that values the streaming video platform at about $22 billion including debt, creating a new television juggernaut that will control content and distribution and allow it to better compete with major streaming platforms in advertising. Salesforce Inc. has agreed to buy Fin, a firm that develops artificial intelligence-powered customer agents, for about $3.6 billion as the software company works to win new business for enterprise AI. Truist Financial Corp. said Michael Lyons will become chief executive officer, succeeding Bill Rogers, who will stay on as the bank’s executive chairman. Some of the main moves in markets:StocksThe S&P 500 rose 1.6% as of 10 a.m. New York time The Nasdaq 100 rose 2.6% The Dow Jones Industrial Average rose 1.2% The Stoxx Europe 600 rose 0.3% The MSCI World Index rose 1.5% CurrenciesThe Bloomberg Dollar Spot Index fell 0.2% The euro rose 0.4% to $1.1616 The British pound rose 0.2% to $1.3435 The Japanese yen was little changed at 160.08 per dollar CryptocurrenciesBitcoin rose 3.9% to $66,444.91 Ether rose 8.7% to $1,814.49 BondsThe yield on 10-year Treasuries declined three basis points to 4.45% Germany’s 10-year yield declined five basis points to 2.95% Britain’s 10-year yield declined three basis points to 4.80% CommoditiesWest Texas Intermediate crude fell 5.4% to $80.27 a barrel Spot gold rose 3.3% to $4,356.56 an ounce ©2026 Bloomberg L.P.
