Trump Signals Possible US‑Iran Deal; Stocks Rally, Oil Plunges

President Trump signalled on Thursday that a US‑Iran peace agreement could be signed soon, and US markets mounted a sharp rally. The S&P 500 rose 1.8%, the Nasdaq 100 climbed 3.3% and WTI crude fell about 6% to $86.43 a barrel.

In remarks in Washington, Trump told reporters there had been “discussions brought to the highest level of Iranian leadership” and suggested “a signing ceremony could take place in Europe as soon as this weekend.” He also stepped back from threatened military strikes.

Equities led the market response. The S&P 500 erased a two-day slide, technology and AI-related stocks posted notable gains, and a sector gauge of chipmakers jumped nearly 8% as buying returned to semiconductor and AI infrastructure names.

Energy markets moved lower. WTI crude retreated from recent highs, falling to $86.43 per barrel.

Fixed-income and currency markets reflected the repricing. The 10-year US Treasury yield fell about 10 basis points to 4.46% and the US dollar index slid roughly 0.4%. Spot gold rose about 3.4% to near $4,211 an ounce, remaining below its 20-day moving average.

Asian markets opened higher on the overnight diplomatic development. Early Friday trading showed gains across major bourses, with Japan’s Nikkei up about 3.4% and South Korea’s KOSPI up about 8% in early trade. Several regional currencies, including the Indonesian rupiah, recovered part of earlier losses.

Technical indicators showed the Nasdaq 100’s rebound paused just below its 20-day moving average and the 61.8% retracement of the prior decline, with short-term resistance near 29,700 and support around 29,000.

Two other developments were reported on Thursday. Data showed US crude exports near 10.5 million barrels per day, positioning the United States as the world’s largest oil exporter. Separately, SpaceX completed a $75 billion capital raise priced at $135 a share, drawing more than $250 billion in institutional demand and over $100 billion in retail orders.

Market participants said they will watch follow-up US‑Iran developments, the planned SpaceX listing and upcoming US economic data for signals on how durable the rally may be.