S&P 500 Erases 2026 Losses Amid Iran Deal Signals

U.S. stocks surged, with the S&P 500 rising about 1% to its highest level since late February, wiping out its losses for 2026.

The rally came after President Trump said Iran still wants a deal and has reached out for negotiations despite a deadlock.

Markets pushed higher even as the U.S. continues a naval blockade of the Strait of Hormuz in the war’s seventh week.

Oil climbed roughly 3% to around $98 a barrel.