Oil fell the most in almost six years and stocks surged after the US and Iran agreed to a two-week ceasefire, giving markets a respite from the turbulence driven by the Middle East conflict. West Texas Intermediate tumbled as much as 19% after President Donald Trump agreed to suspend bombing of Iran in a move that will help restore oil flows through the Strait of Hormuz. Iran said safe passage through the waterway will be possible during that period. Global benchmark Brent crude slid 13% to about $95 per barrel. MSCI’s Asia Pacific equity index jumped 4.5% to a three-week high as traders bet lower oil prices will help contain inflation and revive economic growth. Stock-index futures for Wall Street gauges rose more than 2% and European contracts surged 5%. Treasuries rallied as easing price pressures encouraged traders to revive bets on Federal Reserve interest-rate cuts. A gauge of the dollar, which emerged as the haven of choice during the conflict, fell 0.7%, while gold rose. The ceasefire proposal — announced just hours before a Trump deadline to escalate bombing of Iran — is reviving risk sentiment after turmoil that drove stocks lower and pushed several gauges into correction territory since the Middle East war began six weeks ago. For the cross-asset relief rally to hold, traders will need confirmation that the ceasefire will last and energy flows through the Strait of Hormuz normalize, analysts said. Trump announced the agreement hours after Pakistan, a mediator in talks, implored the US leader to back off his deadline to unleash massive devastation on Iran. The deal buys time for the two sides to reach a longer agreement to end the war, which has killed thousands of people and sparked a global energy crisis. Trump’s decision represents a dramatic climb-down from a bellicose social media post earlier Tuesday, in which he warned “a whole civilization will die tonight, never to be brought back again” if Iran didn’t give in. Some investors remained skeptical. A key test for investors will be whether oil and gas flows through the Strait of Hormuz remain uninterrupted. Safe passage through the waterway will be possible via coordination with Iran’s armed forces and with “due consideration of technical limitations,” Iranian Foreign Minister Abbas Araghchi said in a post on X. Shipowners are scrambling to understand the fine print in the ceasefire, hoping to take advantage of a potential window to extract more than 800 vessels trapped in the Persian Gulf. US After Hours PXED +7.9%, LEVI +6.5% higher on earnings; OSCR +6% as CEO bought shares; DBD +3.8% to join S&P SmallCap 600.
Nikkei +5.30% Hang Seng +3.13% CSI +3.15% Shanghai +2.30% Shenzen +3.89%
Eur$ CNH CNY JPY GBP CHF RUB TRY WTI$ Gold BTC ETH
S&P +2.56% Nasdaq +3.26% EuroStoxx +5.35% FTSE +2.86% Dax +5.20% SMI
Macro :
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Keep an eye on :
Keep an eye on :
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