(Bloomberg) -- Stocks scaled to a record and oil dropped after the US and Iran reached a tentative deal to extend their ceasefire, pending President Donald Trump’s signoff.

U.S. stocks rose Tuesday, catching up after a holiday, as optimism over U.S.-Iran talks lifted sentiment. The S&P 500, Nasdaq and Dow hovered near record highs, while oil prices…

Oil prices were mixed after U.S. strikes on Iranian forces, underscoring the risks still hanging over markets and consumers.