FX.co ★ US Stocks Hold Rally

US equity indices were little changed on Tuesday, consolidating a three-session rally after the US and Iran announced they had reached an agreement to end the conflict and resume energy exports from the Persian Gulf. The S&P 500 inched higher and the Dow added 350 points, extending its record high, while the Nasdaq 100 slipped. Although some inconsistencies in the deal’s terms remain, the US and Iran are still expected to sign the agreement on Friday, and US officials said the Strait of Hormuz will reopen. Treasury yields fell further as the news eased inflation concerns ahead of the Federal Reserve’s widely anticipated decision to keep rates on hold tomorrow, though Chair Warsh may continue to advocate for an overhaul of the monetary policy framework at his first meeting. SpaceX climbed 8%, bringing its gains to 40% since its IPO on Friday, after announcing a $60 billion acquisition of Cursor. In contrast, major tech names pared earlier advances, with Microsoft, Meta, and Alphabet trading lower.