President Donald Trump called off the strikes on Iran on Thursday and said the U.S. is going to sign a deal with Tehran soon.
- The S&P 500 and the Nasdaq 100 rose 1.8% and 3.3%, respectively, while the Dow Jones gained 1.9%.
- U.S. oil slid to around $86, easing inflation worries, while bond yields eased.
- SpaceX priced its long-awaited initial public offering at $135 per share, raising $75 billion by selling 555.6 million shares.
U.S. stock indices recovered on Thursday as hopes for an end to the US-Iran conflict pushed oil prices lower and eased inflation concerns.
The S&P 500 gained 1.8%, Nasdaq jumped 3.3% and the Dow Jones rose 1.9%. The Russell 2000, which tracks stocks with small market capitalizations, rallied 3%.
Among sectors, technology stocks led the gains, rising about 3.7%, followed by materials and industrials, which advanced 3.3% on support from lower oil prices. Consumer discretionary stocks also climbed, adding about 2.5%.
Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY) rose 1.8%, and Invesco QQQ Trust (QQQ) ended Thursday around 3.4% higher, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) ended 2% higher.
The VanEck Semiconductor ETF (SMH) jumped 6.8%, its best single-day jump since April 2025.
However, retail sentiment on Stocktwits for SPY, DIA and QQQ was ‘bearish’ as retail investors were still skeptical about the longevity of the ceasefire and expressed their lack of trust on the deal.
One user highlighted that it is obvious Iran wants things the U.S. doesn’t want them to have, and they are not backing down.
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US Market Drivers
| Index | Move | Close |
| Dow Jones Industrial Average | 1.9% | 50,848.75 |
| S&P 500 | 1.8% | 7,394.30 |
| Nasdaq 100 | 3.3% | 29,446.18 |
“We have a deal that Iran will never have a nuclear weapon.” Trump told reporters in the Oval Office as per CNBC. “We have a signing soon, and the documents are in pretty final shape. It should be done and it should be done pretty quickly.”
Trump, earlier in the day, said in a Truth Social post that he “cancelled the scheduled strikes and bombings against Iran this evening.”
“The Naval Blockade will remain in full force and effect until this Transaction is finalized — Time and place of the signing to be announced shortly,” he added.
West Texas Intermediate crude futures fell 2.58% to settle at $87.71 a barrel after Trump’s announcement. Brent crude futures tumbled 2.92% to end at $90.38 a barrel. Both continued sinking post-settle, as per data quoted on CNBC.
The rebound was seen the most in technology shares with Nvidia, Google, Amazon, Broadcom, ASML, Intel and Micron Tech all ending the day higher, with Micron seeing the maximum gains at 11.6%.
Meanwhile, Space Exploration Technologies Corp., or SpaceX, priced its long-awaited initial public offering at $135 per share for 555.6 million shares of Class A common stock, according to a prospectus filed with the U.S. Securities and Exchange Commission on Thursday.
The IPO generated gross proceeds of approximately $75 billion — making it the largest IPO in U.S. history by a significant margin — and values the rocket manufacturer at a whopping $1.77 trillion.
Trending Stocks To Watch
Adobe (ADBE): The Photoshop maker’s chief financial officer would depart the company to join Marvell Technologies. In hindsight, CEO Shantanu Narayen announced in March his intention to step down as soon as a replacement is found.
Intel (INTC): Bank of America turned bullish on the chipmaker, upgrading it to a buy rating.
AMC Entertainment (AMC): Shares gained after the company announced that it had successfully completed a $150 million at-the-market equity offering.
Alphabet (GOOGL): The company is reportedly in talks with Samsung Electronics to manufacture part of its next-generation artificial intelligence processor.
Oracle (ORCL): Shares dropped 8.5% as investors assessed the company’s AI capex and rising debt levels.
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