Finance

Major market indexes climbed today following news that the U.S. and Iran are nearing a potential peace deal to end ongoing conflict. Sentiment was further bolstered by reports that planned strikes were called off, leading to a significant drop in oil prices and a rebound in risk assets.

The University of Michigan’s preliminary June survey showed a surprise uptick in consumer sentiment to 48.9, exceeding analyst forecasts. While easing gasoline prices provided some immediate relief to households, investors remain cautious as long-term inflation expectations continue to weigh on the broader economic outlook.

The cryptocurrency market saw a cautious recovery today, with Bitcoin rising over 3% to trade near $63,000 following geopolitical breakthroughs. Market analysts noted that while digital assets are rebounding from recent lows, they are increasingly competing for risk capital with high-profile equity events like the SpaceX IPO.