US-Iran Peace Hopes Lift Markets, Drop Oil
Key Questions
How did US-Iran ceasefire prospects impact markets?
Ceasefire hopes eased tensions, boosting S&P and Nasdaq futures by 0.8%. This reduced inflation fears and supported risk assets.
What happened to oil prices amid ceasefire news?
Oil prices dropped from over $100 following a one-page memo on ceasefire prospects. Brent crude fell below $100 on May 7.
How did major indices perform on May 7?
All four major indices hit record highs that day. This occurred alongside the oil price drop due to reduced Iran tensions.
Ceasefire prospects ease tensions, tank oil from $100+, boost S&P/Nasdaq futures +0.8%; reduces inflation fears, supports risk assets.
Sources (2)
Updated May 7, 2026