Wall Street Rallies as U.S.-Iran Peace Deal Looms

A tentative U.S.-Iran agreement to pause hostilities and reopen the Strait of Hormuz has caused Wall Street to rally, with stock indexes surging and oil prices dropping as markets anticipate reduced risks to global energy supplies. The memorandum of understanding, expected to be signed Friday, aims to temporarily halt fighting and facilitate formal negotiations, though it is not a final peace deal.