Wells Fargo raised its S&P 500 year-end target to 7,950 as a US-Iran ceasefire memorandum eases tensions, boosting equities, oil markets, and Bitcoin.

The S&P 500 surged 1.3% and oil prices fell $3-4 per barrel after the US and Iran reached a tentative deal. Bitcoin climbed toward $64,000 on risk-on

Wells Fargo raised its S&P 500 year-end target to 7,950 as a US-Iran ceasefire memorandum eases tensions, boosting equities, oil markets, and Bitcoin.