Stocks Rise on Iran Deal Hopes; SpaceX Drops 10%
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Stock futures climbed alongside the Dow and S&P 500 as oil prices fell, driven by investor hopes of a U.S.-Iran deal related to the Strait of Hormuz, per CNBC, Yahoo Finance, and New York Times headlines
- SpaceX fell 10% in the same session, bucking the broader market rally amid the Dow and Nasdaq digesting tech earnings
Why it matters: A potential U.S.-Iran deal on the Strait of Hormuz directly affects global oil supply, and the concurrent drop in oil prices fueled a broad-based rally in the Dow and S&P 500. SpaceX's 10% decline stood out as a notable counter-trend move in a session otherwise defined by geopolitical-driven gains.
