Market Highlights

Wall Street staged a dramatic comeback, with stocks and bonds rebounding on hopes the 10- day-old Iran war may be nearing a conclusion. Oil tumbled in post-settlement trading after earlier topping $100. The S&P 500 climbed 0.8% as President Donald Trump told CBS the conflict is “very complete, pretty much” and the military operation is “very far” ahead of its initial four- to five-week timeframe. The equity benchmark erased an intraday loss of over 1.5% for the first time since April. US crude dropped to around $87 in late hours. Ten-year Treasury yields halted a five-day increase. Stocks rose and crude oil fell as President Donald Trump signaled the Iran war may be nearing an end, helping boost sentiment after Monday’s selloff in risk assets.