Overview

• The US-mediated truce announced by President Trump has held since initial missile exchanges, reducing the threat of further escalation in the Middle East.
• Brent crude futures fell nearly 3% to about $69 per barrel and have dropped roughly 6% from recent conflict-driven highs as supply fears eased.
• The S&P 500 gained 1.1% to come within 0.8% of its all-time high, while the Dow Jones and Nasdaq Composite each rose more than 1% on improved investor sentiment.
• South Korea’s KOSPI surged nearly 3% to a four-year peak and India’s Sensex rallied over 1,000 points to its highest level in nine months.
• The Indian rupee strengthened about 0.9% against the dollar and global bond yields declined as investors shifted out of haven assets.