U.S.-Iran Framework Sends Oil Lower and Fuels Tech Rally

Overview

• The interim U.S.-Iran framework announced Sunday night said the Strait of Hormuz would reopen and the U.S. would lift its naval blockade, which pushed Brent and WTI futures down sharply.
• Markets reacted Monday morning by rotating money out of energy and into growth names, lifting Nasdaq 100 futures about 2% and sending Asian indexes such as the Nikkei, KOSPI and TAIEX to multi-year or record highs.
• SpaceX’s strong IPO debut last Friday reinforced investor demand for high‑profile tech names and helped restore confidence that had been dented by earlier chip‑sector volatility.
• Energy giants fell while airlines and data‑infrastructure firms gained as traders priced expected lower jet fuel costs; Chevron and Exxon each slid roughly 2.5% while American, Delta and United shares rose between about 3.7% and 4.6%.
• Semiconductor and AI‑supply firms led the rally with memory, storage and test vendors stronger — Micron, Sandisk, SK Hynix, Samsung, SoftBank and Advantest all posted sizable gains — while investors watch how Iran and Oman will regulate Hormuz transit and upcoming chip earnings for signs the move will stick.