US stocks hit new highs as Trump signals decision on Iran deal nears

• S&P 500 and Nasdaq gained 0.3% while Dow rose 353 points (0.7%), all touching fresh all-time intraday highs
• WTI crude fell 2% to around $86/barrel and Brent declined similarly to $91/barrel on reduced supply shock fears
• Trump's framework requires Iran to forgo nuclear weapons permanently, keep the Strait of Hormuz open, and allow destruction of enriched nuclear material with no monetary exchange

Summary

Key Development:

President Trump announced on May 29, 2026, via Truth Social that he is making a "final determination" on a potential framework agreement with Iran, sparking positive market reaction as investors bet on geopolitical de-escalation.

Market Performance:

• S&P 500 and Nasdaq Composite: +0.3% each
• Dow Jones Industrial Average: +353 points (+0.7%)
• All three indexes hit fresh all-time intraday highs
• AI sentiment score: 78/100 (Bullish)

Energy Markets:

• WTI crude: fell ~2% to $86/barrel
• Brent crude: declined ~2% to $91/barrel
• Price drops reflect reduced supply disruption fears despite Iranian missile launches late Thursday

Deal Framework Conditions:

• Iran must permanently abandon nuclear weapons capability
• Strait of Hormuz guaranteed open for unrestricted shipping
• US naval blockade to be lifted
• Enriched nuclear material at Iranian sites to be recovered and destroyed with IAEA coordination
• No cash payments involved

Market Implications:

The potential diplomatic breakthrough carries significance beyond geopolitics. Lower oil prices could ease inflationary pressures, improve consumer and business outlooks, and support resilient economic growth without energy shocks. Technology stocks benefited from the risk-on sentiment. The Strait of Hormuz—a critical global energy chokepoint—remaining open would substantially reduce global supply disruption concerns.

Outlook:

Investors are awaiting confirmation on whether the preliminary framework advances to a formal agreement, viewing this as a potential catalyst for global markets, inflation expectations, and energy prices.