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Market boosts on Hormuz deal
Reports indicated that the U.S. stock market experienced gains as trading opened following the announcement of a preliminary American-Iranian agreement to reopen the Strait of Hormuz and end the naval blockade. This boosted risk appetite and contributed to rises in the Dow Jones, S&P 500, and Nasdaq indices. In contrast, oil prices declined by about 5%, falling below $80 per barrel, while gold and other precious metals prices rose, supported by the dollar's decline and expectations of decreasing inflation.
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