Stocks Sharply Higher as President Trump Seeks to End Iran War

Market Reactions - Stock index futures initially fell sharply after President Trump's ultimatum to Iran regarding the Strait of Hormuz, which could lead to military action if not complied with [1] - Stocks rebounded sharply as crude oil prices dropped over 10% following Trump's announcement to postpone strikes against Iranian energy infrastructure for five days [4] - The S&P 500 Index closed up 1.15%, the Dow Jones Industrial Average up 1.38%, and the Nasdaq 100 Index up 1.22% on the same day [5] Bond Market - Global bond yields fell from their highs, with the 10-year T-note yield decreasing from 4.44% to 4.33%, and the 10-year German Bund yield falling from 3.08% [2] - The 10-year T-note yield fell from an 8-month high of 4.441% to 4.328%, supported by the drop in crude oil prices [9][10] Energy Sector - Crude oil prices remain high due to disruptions caused by the Iran conflict, with the International Energy Agency reporting a potential cut of 8 million barrels per day in global oil supply this month [7] - Goldman Sachs warns that crude prices could exceed the 2008 record high of nearly $150 per barrel if the situation in the Strait of Hormuz does not improve [7] Corporate Movements - Airline and cruise line stocks rallied as lower crude oil prices could reduce fuel costs, with Norwegian Cruise Line Holdings up more than 6% and United Airlines up more than 4% [14] - Technology stocks, including Tesla and Amazon, saw gains, contributing positively to the overall market [13] - Home builders and building suppliers gained as the 10-year T-note yield fell, which is supportive for housing demand [16] Company-Specific News - Apogee Therapeutics saw a significant increase of over 20% after positive trial results for its therapy for atopic dermatitis [17] - Palantir Technologies rose more than 6% after announcing its AI system will be adopted by the Pentagon [17] - Insmed's stock increased over 5% following successful study results for its lung disease treatment [18]