U.S. Stocks Jump as Bessent Says Iran Deal May Be Days Away

U.S. stocks rallied sharply after Treasury Secretary Scott Bessent said a deal with Iran to reopen the Strait of Hormuz could be reached “today or tomorrow,” easing immediate fears of a disruption to global energy flows. The S&P 500 and Nasdaq both hit record highs, while the Dow surged to a fresh all-time high. Oil prices fell hard on the prospect of reduced geopolitical risk, though an attack on a cargo vessel off Oman showed the situation remains unstable. The broader market mood was boosted further by strong earnings-driven gains in several large-cap names, including Palantir, Caterpillar, Wayfair, and Boeing. The move highlights how quickly easing Middle East tensions can lift equities and pressure crude prices, especially when the Strait of Hormuz is in focus as a critical shipping chokepoint.