Markets Rise Amid Hope for Peace Deal After U.S. Sinks Iranian Ships in Hormuz

Stocks looked set to jump on Tuesday as investors bet that the U.S. and Iran were closing in on a peace deal to end the war in the Middle East. President Donald Trump wrote in a post on Truth Social on Monday that talks with Tehran were “proceeding nicely,” although he added that he was prepared to order more strikes against Iran. Later on Monday, the U.S. sank two Islamic Revolutionary Guard Corps ships attempting to lay mines in the Strait of Hormuz in what military officials described as defensive strikes, but investors weren’t too rattled by the flare-up in tensions.