What happened
US stocks posted broad gains on Monday after President Donald Trump told reporters that Iranian officials had called and “want to work a deal.”
The S&P 500 rose 1.02% to close at 6,886.24, erasing its war-driven losses and reaching its highest level since before US-Israeli strikes on Iran began on 28 February. The Dow Jones Industrial Average climbed 302 points, or 0.63%, to 48,218. The Nasdaq Composite advanced 1.23% to 23,184.
Why it matters: Trillions of dollars in market value have been wiped out since the conflict began. A credible path to a deal could reverse weeks of economic damage felt by ordinary investors and pension funds.
What moved markets
Stocks took a decisive leg higher after Trump’s statement. Technology names led the rally, with Oracle climbing nearly 13% and Palantir Technologies gaining more than 3%.
Oil prices eased from recent peaks but remain elevated. Brent crude closed just above $95 a barrel, up more than 31% since the war started. US Energy Secretary Chris Wright said “meaningful ship traffic” through the Strait of Hormuz could resume “sometime in the next few weeks.”
What remains uncertain
Iran has not publicly confirmed the call or any willingness to negotiate. The two-week ceasefire, brokered on 7 April, expires on 21 April. Pakistani, Egyptian and Turkish mediators are attempting to bridge remaining gaps, but the core dispute over uranium enrichment is unresolved.
Trump has demanded Iran permanently end all enrichment and hand over its stockpiles. According to Axios, the US has asked Iran to freeze enrichment for 20 years. Iran’s parliament speaker has said enrichment is permitted under the ceasefire terms.
What happens next
Markets will watch for any official Iranian response to Trump’s claim. The ceasefire deadline of 21 April gives negotiators one week. If no deal is reached, the blockade and conflict could resume in full, reversing Monday’s gains.