economy
CNBC Daily Open: Relief rally rolls on as Mideast deal boosts sentiment
As investors look to the formal signing of the Iran deal on Friday, equities are hitting fresh highs, oil is down and yields are pulling back.
TL;DR
- US markets rallied significantly due to a Washington-Tehran deal, with the Dow reaching a record high and the Nasdaq having its best one-day performance since late March.
- President Donald Trump announced the signing of a deal related to the Strait of Hormuz, with formal signing expected in Geneva on Friday.
- Crude prices decreased, and yields began to pull back in anticipation of central bank decisions.
- The Bank of Japan is expected to raise rates, the Reserve Bank of Australia may pause its hikes, and the Fed's guidance under new chair Kevin Warsh will be closely watched.
- SpaceX's IPO saw a substantial increase, and Nvidia is planning a significant bond offering.
- Fox Corp. has agreed to acquire Roku for about $22 billion.