U.S. Stock Indices Reach Record Highs Ahead of Iran Deal Reaction

The gains occurred even as bond yields remained elevated and a ceasefire between the U.S. and Iran stayed in place.

Markets will open Tuesday with attention on investor response to a reported U.S.-Iran agreement to reopen the Strait of Hormuz. The announcement came on Saturday from the White House, with further details promised soon. A separate statement today indicated no urgency to finalize terms, suggesting additional information could arrive later in the week.

Reports also noted possible pushback from some congressional members. A reopened Strait of Hormuz could reduce shipping costs and ease pressure on energy prices. Lower inflation readings could in turn affect Federal Reserve decisions on interest rates this year.