US stock markets surged on June 29, 2026, as investors collectively exhaled over cooling hostilities between the United States and Iran. The Nasdaq 100 futures climbed over 1%, and the Dow Jones Industrial Average notched yet another record closing high.
Crypto, meanwhile, mostly shrugged. Bitcoin hovered around $59,700, apparently unconvinced that the geopolitical calm would stick around long enough to matter.
The relief rally in numbers
The catalyst was straightforward. Reduced tensions between Washington and Tehran translated directly into optimism about the Strait of Hormuz, one of the world’s most critical chokepoints for oil trading. Oil prices dropped more than 4% on improved hopes for stability in the region.
Tech stocks led the charge, with the Nasdaq emerging as the session’s clear winner. The Dow’s record close marked one of several sessions where the blue-chip index has pushed into new territory.
