Nasdaq, S&P Hit All‑Time Highs as Iran War Ends
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- Nasdaq and S&P reached all‑time highs as markets priced in the end of the Iran war and Hormuz blockades.
- Iran warned it could sink US ships in the Strait of Hormuz if they police the waterway, and the Houthis could blockade the Red Sea.
- Iran used a Chinese spy satellite to target US bases, according to the Financial Times.
- US and Iran are reportedly weighing a two‑week truce extension and moving toward a framework deal, with China pressing Iran to open Hormuz and Tehran offering a proposal for ships to exit via Oman.
- Israel is close to a one‑week ceasefire with Hezbollah in Lebanon, despite no clear path to eliminate the group.
- Australia faces a diesel shortage threatening its mining industry after a fire at one of its two oil refineries, as warned by the founder of Ivanhoe Mines.
- US is pushing for a $1.5 trillion defense budget, up nearly 50%, and has approached automakers to shift capacity to weapons production.
Why it matters: The rally benefits shareholders, but the underlying geopolitical negotiations—US‑Iran truce, Israel‑Hezbollah ceasefire, and a $1.5 trillion US defense budget—signal that the perceived end of the war may be temporary, while energy‑dependent sectors like Australian mining and EU fuel markets remain vulnerable.
