US stocks climb, oil slips as U.S.-Iran ceasefire holds
Business
US stocks are climbing and oil prices are dropping as the U.S.-Iran cease-fire holds steady, easing worries about conflict near the vital Strait of Hormuz.
The S&P 500 is flirting with record highs, while Brent crude has slipped to around $111 per barrel, even though the blockade of the key energy chokepoint is still in place.
US tech and economy buoy markets
Big tech names are fueling market optimism: Apple is exploring chip deals with Intel and Samsung, Meta is lining up $13 billion for a Texas data center, and AMD just had its best stock run in decades.
Meanwhile, solid job numbers and new-home sales show the US economy is holding strong, giving investors more reasons to stay upbeat as long as tensions remain low.