Oil Slides, Stocks Rise as Trump Announces Truce: Markets Wrap
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Stocks Rise, Oil Falls on Mideast Truce Optimism: Markets Wrap
Stocks Rise, Oil Falls on Mideast Truce Optimism: Markets Wrap. Oil slumped and stocks gained after US President Donald Trump announced a ceasefire between Israel and Iran. European stocks advanced 1.3%, while a gauge for Asian shares headed for its biggest gain in more than a month. The dollar fell against a basket of currencies while gold dropped 1-3%. The events followed a turbulent stretch in financial markets, which have been roiled for nearly two weeks by fears of an escalating conflict. The Stoxx Europe 600 rose 1.2% and the MSCI Asia Pacific Index rose 2.7% as of 10:11 a.m. London time. The yield on the benchmark 10-year note little changed at 4.35%.Federal Reserve Chair Jerome Powell will likely have to explain why he and fellow policymakers seem resolved to continue holding interest rates for the time being when he testifies before Congress later today and Wednesday. The MSCi Emerging Markets Index fell 0.4% to 2,403.
4 minutes
(Bloomberg) — Oil slumped and stocks gained after US President Donald Trump announced a ceasefire between Israel and Iran, spurring cautious optimism for a lasting resolution to the conflict.
Brent crude slid as much as 5.6%, falling below the level of June 12 — the day before Israel began attacking Iran’s nuclear sites. The benchmark later pared losses to trade near $69 a barrel after Israel reported a missile launch from Iran and instructed its military to respond. Iran denied firing the missiles following the truce, according to the state-run news agency.
S&P 500 futures rose 0.8%, signaling a second day of gains for the US benchmark. European stocks advanced 1.3%, while a gauge for Asian shares headed for its biggest gain in more than a month. The dollar fell against a basket of currencies while gold dropped 1.3%.
The events followed a turbulent stretch in financial markets, which have been roiled for nearly two weeks by fears of an escalating conflict. Volatility was particularly high in oil, as concerns over supply and shipping disruptions had pushed Brent crude to nearly $80 a barrel.
“If the ceasefire holds – and there is no guarantee that it will – it will undoubtedly be greeted positively by markets as it will at the margin reduce uncertainty,” said Daniel Murray, chief executive officer of EFG Asset Management in Switzerland. Lower oil prices will reduce inflationary pressure and “also help support consumption trends and hence growth overall.”
The risk-sensitive New Zealand and Australian dollars led gains in Group-of-10 currencies, followed by the yen.
“The US dollar was one of the key beneficiaries of the hostilities so it is now rolling over,” said Sean Callow, a senior analyst at InTouch Capital Markets in Sydney. “Investors have been very keen to draw a line under the Israel-Iran conflict, choosing to leave aside any concerns over the path Iran might choose beyond the very short term.”
Powell Awaited
Treasuries were largely left behind by Tuesday’s market moves, with the yield on the benchmark 10-year note little changed at 4.35%.
Federal Reserve Chair Jerome Powell will likely have to explain why he and fellow policymakers seem resolved to continue holding interest rates for the time being when he testifies before Congress later today and Wednesday.
“We expect the market, which has a notoriously short attention span, to shift its focus back to tariffs and the Fed, with Board members showing increased division ahead of Fed Chair Powell’s testimony,” Tony Sycamore, a market analyst at IG Australia in Sydney, wrote in a note.
Corporate Highlights:
Spain’s government is set to impose additional conditions on BBVA SA’s planned takeover of Banco Sabadell SA, La Vanguardia reported.
Alphabet Inc.’s Google is set to face more scrutiny from the UK’s antitrust watchdog over its online search and advertising business.
Nvidia Corp. Chief Executive Officer Jensen Huang has started selling the chipmaker’s stock, his first transactions under a plan that allows him to offload up to $865 million worth by year’s end.
Spanish drugmaker Grifols SA paid a higher price to buy blood plasma from an entity linked to its controlling family than from third-party suppliers, according to a regulator’s findings submitted in a court case.
Some of the main moves in markets:
Stocks
The Stoxx Europe 600 rose 1.3% as of 10:11 a.m. London time
S&P 500 futures rose 0.8%
Nasdaq 100 futures rose 1.1%
Futures on the Dow Jones Industrial Average rose 0.7%
The MSCI Asia Pacific Index rose 2.2%
The MSCI Emerging Markets Index rose 2.3%
Currencies
The Bloomberg Dollar Spot Index fell 0.4%
The euro rose 0.2% to $1.1600
The Japanese yen rose 0.7% to 145.09 per dollar
The offshore yuan was little changed at 7.1743 per dollar
The British pound rose 0.7% to $1.3612
Cryptocurrencies
Bitcoin rose 1.3% to $105,141.14
Ether rose 2.3% to $2,403.41
Bonds
The yield on 10-year Treasuries was little changed at 4.35%
Germany’s 10-year yield advanced four basis points to 2.54%
Britain’s 10-year yield advanced three basis points to 4.52%
Commodities
Brent crude fell 3.4% to $69.06 a barrel
Spot gold fell 1.3% to $3,325.02 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Abhishek Vishnoi, Jason Scott, Allegra Catelli and Sujata Rao.
(A previous version of the story corrected the date reference for the start of the attacks)
©2025 Bloomberg L.P.
Stocks Rise, Oil Falls on Mideast Truce Optimism: Markets Wrap
Stocks Rise, Oil Falls on Mideast Truce Optimism: Markets Wrap. Oil slumped and stocks gained after US President Donald Trump announced a ceasefire between Israel and Iran. European stocks advanced 1.3%, while a gauge for Asian shares headed for its biggest gain in more than a month. The dollar fell against a basket of currencies while gold dropped 1-3%. The events followed a turbulent stretch in financial markets, which have been roiled for nearly two weeks by fears of an escalating conflict. The Stoxx Europe 600 rose 1.2% and the MSCI Asia Pacific Index rose 2.7% as of 10:11 a.m. London time. The yield on the benchmark 10-year note little changed at 4.35%.Federal Reserve Chair Jerome Powell will likely have to explain why he and fellow policymakers seem resolved to continue holding interest rates for the time being when he testifies before Congress later today and Wednesday. The MSCi Emerging Markets Index fell 0.4% to 2,403.
4 minutes
(Bloomberg) — Oil slumped and stocks gained after US President Donald Trump announced a ceasefire between Israel and Iran, spurring cautious optimism for a lasting resolution to the conflict.
Brent crude slid as much as 5.6%, falling below the level of June 12 — the day before Israel began attacking Iran’s nuclear sites. The benchmark later pared losses to trade near $69 a barrel after Israel reported a missile launch from Iran and instructed its military to respond. Iran denied firing the missiles following the truce, according to the state-run news agency.
S&P 500 futures rose 0.8%, signaling a second day of gains for the US benchmark. European stocks advanced 1.3%, while a gauge for Asian shares headed for its biggest gain in more than a month. The dollar fell against a basket of currencies while gold dropped 1.3%.
The events followed a turbulent stretch in financial markets, which have been roiled for nearly two weeks by fears of an escalating conflict. Volatility was particularly high in oil, as concerns over supply and shipping disruptions had pushed Brent crude to nearly $80 a barrel.
“If the ceasefire holds – and there is no guarantee that it will – it will undoubtedly be greeted positively by markets as it will at the margin reduce uncertainty,” said Daniel Murray, chief executive officer of EFG Asset Management in Switzerland. Lower oil prices will reduce inflationary pressure and “also help support consumption trends and hence growth overall.”
The risk-sensitive New Zealand and Australian dollars led gains in Group-of-10 currencies, followed by the yen.
“The US dollar was one of the key beneficiaries of the hostilities so it is now rolling over,” said Sean Callow, a senior analyst at InTouch Capital Markets in Sydney. “Investors have been very keen to draw a line under the Israel-Iran conflict, choosing to leave aside any concerns over the path Iran might choose beyond the very short term.”
Powell Awaited
Treasuries were largely left behind by Tuesday’s market moves, with the yield on the benchmark 10-year note little changed at 4.35%.
Federal Reserve Chair Jerome Powell will likely have to explain why he and fellow policymakers seem resolved to continue holding interest rates for the time being when he testifies before Congress later today and Wednesday.
“We expect the market, which has a notoriously short attention span, to shift its focus back to tariffs and the Fed, with Board members showing increased division ahead of Fed Chair Powell’s testimony,” Tony Sycamore, a market analyst at IG Australia in Sydney, wrote in a note.
Corporate Highlights:
Spain’s government is set to impose additional conditions on BBVA SA’s planned takeover of Banco Sabadell SA, La Vanguardia reported.
Alphabet Inc.’s Google is set to face more scrutiny from the UK’s antitrust watchdog over its online search and advertising business.
Nvidia Corp. Chief Executive Officer Jensen Huang has started selling the chipmaker’s stock, his first transactions under a plan that allows him to offload up to $865 million worth by year’s end.
Spanish drugmaker Grifols SA paid a higher price to buy blood plasma from an entity linked to its controlling family than from third-party suppliers, according to a regulator’s findings submitted in a court case.
Some of the main moves in markets:
Stocks
The Stoxx Europe 600 rose 1.3% as of 10:11 a.m. London time
S&P 500 futures rose 0.8%
Nasdaq 100 futures rose 1.1%
Futures on the Dow Jones Industrial Average rose 0.7%
The MSCI Asia Pacific Index rose 2.2%
The MSCI Emerging Markets Index rose 2.3%
Currencies
The Bloomberg Dollar Spot Index fell 0.4%
The euro rose 0.2% to $1.1600
The Japanese yen rose 0.7% to 145.09 per dollar
The offshore yuan was little changed at 7.1743 per dollar
The British pound rose 0.7% to $1.3612
Cryptocurrencies
Bitcoin rose 1.3% to $105,141.14
Ether rose 2.3% to $2,403.41
Bonds
The yield on 10-year Treasuries was little changed at 4.35%
Germany’s 10-year yield advanced four basis points to 2.54%
Britain’s 10-year yield advanced three basis points to 4.52%
Commodities
Brent crude fell 3.4% to $69.06 a barrel
Spot gold fell 1.3% to $3,325.02 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Abhishek Vishnoi, Jason Scott, Allegra Catelli and Sujata Rao.
(A previous version of the story corrected the date reference for the start of the attacks)
©2025 Bloomberg L.P.
World shares rally after Trump announces what appears to be a shaky Israeli-Iran ceasefire
U.S. President Donald Trump announced what appears to be a shaky ceasefire in the Israel-Iran war. Israel said Iran had launched missiles into its airspace less than three hours after the ceasefire went into effect. Oil prices fell further, after tumbling on Monday as fears subsided of an Iranian blockade of the Strait of Hormuz. Treasury yields eased after a top Federal Reserve official said she would support cutting rates at the Fed’s next meeting, as long as “inflation pressures remain contained” and the Fed Chair Jerome Powell’s comments to the U.S Congress later Tuesday, analysts said. The price of oil initially jumped 6% after trading began Sunday night, a signal of rising worries as investors got their first chance to react to the United States’ bombing of Iran’s nuclear sites. The fear has been that the war could squeeze supplies, pumping up prices for crude, gasoline and other products.
The tentative truce proposed by Trump remained uncertain after Israel said Iran had launched missiles into its airspace less than three hours after the ceasefire went into effect. It vowed to retaliate.
Still, investors took heart after Trump said Israel and Iran had agreed to a “complete and total ceasefire” soon after Iran launched limited missile attacks Monday on a U.S. military base in Qatar, retaliating for the American bombing of its nuclear sites over the weekend.
The future for the S&P 500 gained 1% while that for the Dow Jones Industrial Average was up 0.8%.
“The Middle East may still be smoldering, but as far as markets are concerned, the fire alarm has been shut off,” Stephen Innes of SPI Asset Management said in a commentary.
In early European trading, Germany’s DAX leaped 2.2% to 23,780.32, while the CAC 40 in Paris added 1.4% to 7,645.58. Britain’s FTSE 100 was up 0.4% at 8,793.18.
In Asia, Tokyo’s Nikkei 225 rose 1.1% to 38,790.56 and the Hang Seng in Hong Kong gained 2.1% to 24,177.07.
The Shanghai Composite index climbed 1.2% to 3,420.57.
In South Korea, the Kospi jumped 3% to 3,103.64, while Australia’s S&P/ASX 200 gained 1% to 8,555.50.
Taiwan’s Taiex rose 2.1% and India’s Sensex was up 0.6%. In Bangkok, the SET surged 2.5%.
Oil prices fell further, after tumbling on Monday as fears subsided of an Iranian blockade of the Strait of Hormuz, a vital waterway for shipping crude.
The price of oil initially jumped 6% after trading began Sunday night, a signal of rising worries as investors got their first chance to react to the U.S. bombings. But it quickly shed all those gains, with U.S. benchmark crude falling 7.2%. It dropped further early Tuesday, giving up 3% to $66.44 per barrel. It had briefly topped $78.
Brent crude, the international standard, shed 3.1% early Tuesday to $68.33.
U.S. stocks rallied on Monday despite the United States’ bunker-busting entry into its war with Israel.
The S&P 500 climbed 1% and the Dow industrials gained 0.9%. The Nasdaq composite index advanced 0.9%.
Iran’s retaliation for the U.S. attacks appeared not to target the flow of oil. The fear throughout the Israel-Iran war has been that it could squeeze supplies, pumping up prices for crude, gasoline and other products.
Back in the U.S., Treasury yields eased after a top Federal Reserve official said she would support cutting rates at the Fed’s next meeting, as long as “inflation pressures remain contained.”
Investors will be watching for Fed. Chair Jerome Powell’s comments to the U.S. Congress later Tuesday, analysts said.
The yield on the 10-year Treasury held steady at 4.33% from 4.38% late Friday. The two-year Treasury yield, which more closely tracks expectations for the Fed, dropped to 3.83% from 3.90%.
The Federal Reserve has been hesitant to cut interest rates this year because it’s waiting to see how much higher tariffs imposed by Trump will hurt the U.S. economy and raise inflation.
Inflation has remained relatively tame recently, but higher oil and gasoline prices would push it higher. That could keep the Fed on hold because cuts to rates can fan inflation while they also give the economy a boost.
In currency dealings early Tuesday, the U.S. dollar fell to 144.93 Japanese yen from 146.15 yen late Monday. The euro rose to $1.1616 from $1.1578.
Oil Drops, Stocks Look Up on Trump Truce Talk: Markets Wrap
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Stocks Rise, Oil Falls on Mideast Truce Optimism: Markets Wrap
Stocks Rise, Oil Falls on Mideast Truce Optimism: Markets Wrap. Oil slumped and stocks gained after US President Donald Trump announced a ceasefire between Israel and Iran. European stocks advanced 1.3%, while a gauge for Asian shares headed for its biggest gain in more than a month. The dollar fell against a basket of currencies while gold dropped 1-3%. The events followed a turbulent stretch in financial markets, which have been roiled for nearly two weeks by fears of an escalating conflict. The Stoxx Europe 600 rose 1.2% and the MSCI Asia Pacific Index rose 2.7% as of 10:11 a.m. London time. The yield on the benchmark 10-year note little changed at 4.35%.Federal Reserve Chair Jerome Powell will likely have to explain why he and fellow policymakers seem resolved to continue holding interest rates for the time being when he testifies before Congress later today and Wednesday. The MSCi Emerging Markets Index fell 0.4% to 2,403.
4 minutes
(Bloomberg) — Oil slumped and stocks gained after US President Donald Trump announced a ceasefire between Israel and Iran, spurring cautious optimism for a lasting resolution to the conflict.
Brent crude slid as much as 5.6%, falling below the level of June 12 — the day before Israel began attacking Iran’s nuclear sites. The benchmark later pared losses to trade near $69 a barrel after Israel reported a missile launch from Iran and instructed its military to respond. Iran denied firing the missiles following the truce, according to the state-run news agency.
S&P 500 futures rose 0.8%, signaling a second day of gains for the US benchmark. European stocks advanced 1.3%, while a gauge for Asian shares headed for its biggest gain in more than a month. The dollar fell against a basket of currencies while gold dropped 1.3%.
The events followed a turbulent stretch in financial markets, which have been roiled for nearly two weeks by fears of an escalating conflict. Volatility was particularly high in oil, as concerns over supply and shipping disruptions had pushed Brent crude to nearly $80 a barrel.
“If the ceasefire holds – and there is no guarantee that it will – it will undoubtedly be greeted positively by markets as it will at the margin reduce uncertainty,” said Daniel Murray, chief executive officer of EFG Asset Management in Switzerland. Lower oil prices will reduce inflationary pressure and “also help support consumption trends and hence growth overall.”
The risk-sensitive New Zealand and Australian dollars led gains in Group-of-10 currencies, followed by the yen.
“The US dollar was one of the key beneficiaries of the hostilities so it is now rolling over,” said Sean Callow, a senior analyst at InTouch Capital Markets in Sydney. “Investors have been very keen to draw a line under the Israel-Iran conflict, choosing to leave aside any concerns over the path Iran might choose beyond the very short term.”
Powell Awaited
Treasuries were largely left behind by Tuesday’s market moves, with the yield on the benchmark 10-year note little changed at 4.35%.
Federal Reserve Chair Jerome Powell will likely have to explain why he and fellow policymakers seem resolved to continue holding interest rates for the time being when he testifies before Congress later today and Wednesday.
“We expect the market, which has a notoriously short attention span, to shift its focus back to tariffs and the Fed, with Board members showing increased division ahead of Fed Chair Powell’s testimony,” Tony Sycamore, a market analyst at IG Australia in Sydney, wrote in a note.
Corporate Highlights:
Spain’s government is set to impose additional conditions on BBVA SA’s planned takeover of Banco Sabadell SA, La Vanguardia reported.
Alphabet Inc.’s Google is set to face more scrutiny from the UK’s antitrust watchdog over its online search and advertising business.
Nvidia Corp. Chief Executive Officer Jensen Huang has started selling the chipmaker’s stock, his first transactions under a plan that allows him to offload up to $865 million worth by year’s end.
Spanish drugmaker Grifols SA paid a higher price to buy blood plasma from an entity linked to its controlling family than from third-party suppliers, according to a regulator’s findings submitted in a court case.
Some of the main moves in markets:
Stocks
The Stoxx Europe 600 rose 1.3% as of 10:11 a.m. London time
S&P 500 futures rose 0.8%
Nasdaq 100 futures rose 1.1%
Futures on the Dow Jones Industrial Average rose 0.7%
The MSCI Asia Pacific Index rose 2.2%
The MSCI Emerging Markets Index rose 2.3%
Currencies
The Bloomberg Dollar Spot Index fell 0.4%
The euro rose 0.2% to $1.1600
The Japanese yen rose 0.7% to 145.09 per dollar
The offshore yuan was little changed at 7.1743 per dollar
The British pound rose 0.7% to $1.3612
Cryptocurrencies
Bitcoin rose 1.3% to $105,141.14
Ether rose 2.3% to $2,403.41
Bonds
The yield on 10-year Treasuries was little changed at 4.35%
Germany’s 10-year yield advanced four basis points to 2.54%
Britain’s 10-year yield advanced three basis points to 4.52%
Commodities
Brent crude fell 3.4% to $69.06 a barrel
Spot gold fell 1.3% to $3,325.02 an ounce
This story was produced with the assistance of Bloomberg Automation.
–With assistance from Abhishek Vishnoi, Jason Scott, Allegra Catelli and Sujata Rao.
(A previous version of the story corrected the date reference for the start of the attacks)
©2025 Bloomberg L.P.