Stocks Rise to Records as Trump Nears Iran Framework

On Friday, U.S. stocks reached intraday record highs after President Donald Trump posted on Truth Social that he was entering the Situation Room to make a “final determination” on a framework aimed at ending the conflict with Iran and addressing long‑running security and energy concerns. The S&P 500 and Nasdaq Composite each rose about 0.3%, while the Dow Jones Industrial Average climbed 353 points, roughly 0.7%. All three indexes touched intraday highs as technology shares led gains.

U.S. West Texas Intermediate crude futures fell about 2% to near $86 a barrel, and Brent crude declined roughly 2% to about $91 a barrel. Traders reacted to language in Trump’s post that included a guarantee of unrestricted shipping through the Strait of Hormuz.

In his Truth Social post, Trump listed conditions for the framework: Iran must permanently forgo any nuclear weapons capability; the Strait of Hormuz must remain open to unrestricted shipping; the U.S. naval blockade imposed during the fighting would be lifted; and enriched nuclear material buried at Iranian sites would be recovered and destroyed in coordination with Iran and the International Atomic Energy Agency. He wrote that “no money would be exchanged” and indicated other provisions had already been agreed.

The oil decline occurred despite reports that Iranian armed forces fired missiles late Thursday. Market participants treated that event as a contained escalation compared with the prospect of a broader, prolonged disruption to shipping and oil flows.

Investors are awaiting confirmation that Iran and international partners will accept the terms and for details on how nuclear material recovery and verification would be carried out. Officials in Washington, Tehran and the IAEA have not issued a formal agreement at this time.

Any formal announcement from the White House, Tehran or the IAEA is likely to set the tone for markets in the coming days.