Stocks climb on US

Stocks climb on US-Iran peace deal

High-flying tech names, travel stocks, and crypto all soared, while energy stocks sank as oil prices fell.

The S&P 500, Nasdaq 100, and Russell 2000 climbed higher on news that the US and Iran have reached a deal to reopen the Strait of Hormuz and end hostilities. Oil prices sank on the news.

Technology was the best-performing sector as the peace deal reignited enthusiasm for the AI trade, while energy was the worst performer. All Magnificent 7 stocks rose.

Bitcoin rose to its highest level in two weeks as the risk-on mood resumed. Ethereum, solana, XRP, Zcash, and Hyperliquid Strategies also soared as the broader crypto market snapped back on improved risk sentiment.

Southwest Airlines, Alaska Air, JetBlue, Frontier, Delta Air Lines, United Airlines, and American Airlines all climbed as oil prices dropped on the promise that the Strait of Hormuz would soon be open.

Royal Caribbean, Norwegian Cruise Line, and Carnival gained as falling oil prices and reduced geopolitical risk lifted the travel and leisure sector.

The peace deal reignited the momentum trade, sending 2026’s best-performing tech and semiconductor names sharply higher, with Seagate Technology Holdings, Astera Labs, Nebius, Lam Research, Applied Materials, Intel, GlobalFoundries, Coherent, Sandisk, AMD, Western Digital, Marvell Technology, Dell, Nvidia, and Lumentum all surging.

Exxon, Devon Energy, Occidental Petroleum, Chevron, Phillips 66, and CF Industries fell as oil prices dropped.

Fox sank as as investors digested the risk profile and timeline of its deal to buy Roku in a cash-and-stock transaction valued at about $22 billion.