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Dow Transports touched an all-time high, while the Russell 2000 outperformed its larger.
A two-week U.S.-Iran ceasefire brokered by Pakistan triggered a global stock market rally.
KEY POINTS
- The Strait of Hormuz may reopen within days if a ceasefire framework is agreed.
- WTI and Brent crude futures fell over 13%, both settling below $100 per barrel.
- Federal Reserve minutes reveal policymakers raised their 2026 inflation outlook due to the war's oil shock.
- European and global stock indexes posted their largest one-day percentage gains in a year.
COMPANIES
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