Wall Street rallied on Monday, with the Nasdaq climbing 3% and the Dow marking a record-high ​close after the United States and Iran struck a preliminary agreement to end the Middle East war and reopen the Strait of Hormuz, leading to ‌an easing of inflation fears as crude oil prices dropped.
The deal framework — expected to be formally signed in Switzerland on Friday — did not address key issues such as Tehran‘s nuclear program and the Israel-Lebanon conflict.