US-Iran 60-Day Ceasefire Deal Sends S&P 500, Nasdaq Up

U.S. and Iranian negotiators reached a preliminary 60‑day memorandum of understanding to extend a ceasefire and begin structured talks on Iran’s nuclear program, a development that pushed the S&P 500 and Nasdaq Composite to fresh record highs while the Dow Jones Industrial Average traded little changed.

Under the proposed agreement, the ceasefire would be extended for 60 days and structured negotiations would begin on Iran’s nuclear activities and related sanctions. U.S. officials and a regional mediator said the broad terms had been largely finalized, but final approval from senior leaders on both sides remained pending.

The memorandum would keep shipping through the Strait of Hormuz unrestricted. U.S. officials described the arrangement as imposing no tolls or harassment for commercial vessels, requiring Iran to remove all mines from the strait within 30 days, and tying a gradual lifting of the U.S. naval blockade to the restoration of commercial shipping.

The draft also would include an explicit Iranian commitment not to pursue a nuclear weapon and would set an initial negotiating phase focused on handling highly enriched uranium and establishing rules for enrichment activity. The U.S. side would discuss sanctions relief and the release of frozen Iranian funds during the 60‑day period, and the memorandum would address mechanisms to allow Iran to begin receiving goods and humanitarian aid.

Officials cautioned that the memorandum is preliminary and that a comprehensive, long-term agreement addressing U.S. nuclear demands would require more negotiations and approvals. A U.S. official told mediators, “The president relayed to the mediators that he wants a couple of days to think about it.” Iranian negotiators later informed mediators they had obtained the necessary approvals and were prepared to sign, though Iran has not publicly confirmed that position.

Financial markets reversed an early decline after the report. The S&P 500 rose about 0.3% and the Nasdaq Composite gained roughly 0.3%, with both indexes reaching all-time highs during the session. The Dow was down about 79 points. Currency markets showed increased risk appetite as the U.S. dollar weakened following the report.

Investors are watching developments closely because the Strait of Hormuz is a major route for global oil shipments. Officials emphasized the arrangement is an initial framework and that substantial nuclear and sanctions issues would remain to be resolved in the weeks ahead.