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Nasdaq hits new high amid oil dip after Iran news
The NASDAQ index reached a new record high as oil prices declined after a three-hour meeting between the United States and Iran, during which Trump expressed the possibility of reaching an agreement with Iran after the elections. Oil prices fell significantly, with Brent crude dropping to $99.25 per barrel and West Texas Intermediate to $94.59, marking the fifth consecutive session of losses. This decline was driven by reports of Iran’s potential reopening of the Strait of Hormuz and Saudi plans to operate a pipeline. The drop in oil prices aided the stock market, despite U.S. Treasury yields rising to around 4.955%, with expectations of possible interest rate increases into early 2027. Attention now shifts to the Washington summit between Trump and Xi to discuss AI, Iran, and tariffs.
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