Good afternoon and welcome to Markets Desk.
Equity markets are in rally mode today after President Trump signed an interim peace deal with Iran, temporarily reopening the Strait of Hormuz. Oil prices dropped sharply on the news, lifting risk appetite across the board. The S&P five hundred climbed just over one percent to roughly seventy-four hundred and ninety-six, while the Nasdaq led the charge, gaining nearly one and a half percent on the session. The Dow lagged, adding only a third of a percent, consistent with its more defensive composition.
Riding that geopolitical tailwind, GE Vernova was among the standout movers. Analysts are pointing to a potential three hundred billion dollars in reconstruction spending tied to the Middle East agreement, which could translate directly into large-scale equipment orders for the power infrastructure company. That kind of pipeline visibility tends to move industrial names decisively, and today was no exception.
Meanwhile, Intel surged sharply, helping power the Nasdaq's outperformance. The chip sector broadly benefited from the improved macro backdrop, with receding geopolitical risk reducing the uncertainty premium that had been weighing on growth and technology names. Intel's move suggests investors see the current environment as a meaningful reopening for beaten-down semiconductor exposure.
That's the tape. Markets Desk, signing off the floor.
