During the previous negotiation process, there were multiple rounds of back-and-forth. This time, regardless of what was specifically discussed, will negotiations break down again after 60 days? The agreement between the United States and Iran is a major breakthrough—especially the reopening of the Strait of Hormuz—which will help lower oil prices.

When Trump met with French President Emmanuel Macron, he pointed out that the Strait of Hormuz has already been partially reopened, and reports from Iranian television also suggest that the U.S. has already started lifting the maritime blockade.

How long will this upward run last?

UBS analyst Ulrike Hoffmann-Burchardi believes that short-term market volatility may continue, as the implementation and durability of the agreement need to be assessed; however, healthy corporate growth will continue to drive stock prices higher.

JPMorgan analyst Mislav Matejka said that if geopolitical tensions ease and corporate profits and inflation remain stable, it is possible to continue seeing gains through the end of the year.

With oil prices falling, the likelihood of the Federal Reserve raising rates in December has decreased. The Fed will hold a rate decision meeting this week. Although the benchmark interest rate is not expected to be adjusted, this is the debut of the new Fed Chair, Kevin Warsh, and the market will gain a better understanding of his stance and style.