U.S. stocks surged significantly: the Dow Jones Industrial Average soared 702 points to a new high, as the market bets on the U.S.-Iran agreement ending the war

BlockBeats News, June 15 — U.S. stocks rose on Monday as investors continued to digest expectations of a memorandum of understanding between the U.S. and Iran to end the war, leading to a broad rally in risk assets.

The Dow Jones Industrial Average rose 702 points, up 1.4%, hitting a new all-time high during the session; the S&P 500 increased by 1.9%, and the Nasdaq Composite gained 3%. SpaceX continued its strong performance on its second day of trading, with shares rising over 10%, after an initial gain of up to 19% on the first day.

Market sentiment was boosted by Trump’s announcement that the "U.S.-Iran agreement has been completed." The memorandum is expected to be signed in Switzerland on Friday, which also triggered a sharp decline in crude oil prices, with U.S. crude falling about 5% to around $80 per barrel.

U.S. Vice President Vance stated that the Strait of Hormuz is expected to "reopen in the long term with a toll fee approach," further easing energy supply concerns. Analysts pointed out that the decline in oil prices helps ease inflation pressures, and the market generally expects the probability of the Federal Reserve maintaining interest rates unchanged this week to exceed 98%.