President Donald Trump on Sunday said the U.S. had fired on and seized an Iranian-flagged cargo ship in the Gulf of Oman.

U.S. stocks race toward the finish of a third straight week of big gains.

The S&P 500 leaped 2.5% after Trump announced a two-week ceasefire with Iran, less than 90 minutes before a deadline Trump had set for it to open the Strait of Hormuz.

President Donald Trump on Sunday said the U.S. had fired on and seized an Iranian-flagged cargo ship in the Gulf of Oman.

President Donald Trump extended the U.S. ceasefire with Iran on Tuesday afternoon.