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2026.06.1520:14:30UTC+00US Stocks Rally as Oil Slumps on US-Iran Deal

US stocks rallied on Monday after Washington and Tehran reached a preliminary agreement aimed at ending the Middle East conflict and reopening the Strait of Hormuz, easing inflation worries and pushing oil prices lower. The S&P 500 advanced 1.7%, the Dow Jones Industrial Average climbed 469 points to a record high, and the Nasdaq jumped 3.1%, marking its strongest session since March 31.

US crude prices slid 5%, lifting shares of fuel-sensitive companies. United Airlines gained 3.9%, Norwegian Cruise Line rose 3.7%, and Carnival Corp added 3.2%. The decline in oil prices also improved broader market sentiment, underpinning gains across growth-oriented sectors, with technology stocks leading the advance.

In corporate news, SpaceX shares soared 19%, extending their rally after last week’s record-breaking Nasdaq debut, which followed the largest IPO in history. By contrast, Fox sank 15% after announcing plans to acquire Roku in a $22 billion deal.

Investors are now turning their attention to the Federal Reserve’s upcoming policy meeting, where officials are widely expected to keep interest rates on hold.

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