Stock markets rise following the plunge in oil prices triggered by the ceasefire agreement between the U.S. and Iran; a wave of optimism swept through global financial markets after the United States and Iran reached a ceasefire agreement, boosting stock markets and causing the biggest drop in oil prices in six years.

A sharp rise in risk appetite drove the S&P 500 higher, and a drop in oil prices eased concerns about an energy crisis, reigniting bets that the Federal Reserve will cut interest rates in 2026.

Investors are betting that oil prices could fall even further and that the Strait of Hormuz will reopen, and hedge funds are rushing to close their short positions on U.S. stocks at a pace not seen since themarketrecovered from the pandemic in March 2020.

VIX down 17% at 21.38

 

Venezuelan bonds up 0.25 points.