"Futures are trading modestly higher after a blowout midweek rally spurred by reports that a peace agreement with Iran could be forthcoming soon and by incredible technology earnings and forecasts that destroyed Wall Street estimates. All of the major indices were once again printing new highs as investors cheered the potential for good news and home-run earnings reports. The Nasdaq led stocks higher on the strength of Advanced Micro Devices' ( NASDAQ: AMD | AMD Price Prediction) stunning earnings and formidable forward guidance, closing up 2.03% at 25,838, while the S&P 500 finished the session at 7,365, up 1.46%, the first close ever for the venerable index over 7300."
"After the 5% level for long Treasury bonds was breached earlier this week, buyers once again stepped in on Wednesday, and yields across the entire Treasury curve finished the day lower. Like the action in equity markets, bond traders cited the potential for a peace deal with Iran and tumbling oil prices as major factors behind the strength. The 30-year-long bond closed the day at 4.94%, down 4 basis points, while the benchmark 10-year note closed the session at 4.35%."
"Needless to say, with oil plunging, sellers were quick to hit bids, and both major oil benchmark indices finished the day dramatically lower. This comes as U.S. fuel exports hit all-time highs due to the closure of the Strait of Hormuz. Brent Crude finished the day at $101.50, down 7.65%, while West Texas Intermediate closed at $95.33, down 6.94%. Natural gas closed at $2.72, down 2.15%."
"After a difficult stretch for precious metals, the news of a potential peace plan and falling oil prices was just what the doctor ordered, as Gold and Silver both traded higher on Wednesday. Gold closed the day at $4,697, up 3.10%, while Silver was the star of the day, closing at $77.47, up 6"
Futures rose modestly following a strong midweek rally driven by reports of a potential peace agreement with Iran and major technology earnings that exceeded expectations. Major stock indexes reached new highs, with the Nasdaq leading gains after Advanced Micro Devices delivered strong results and guidance. Treasury yields declined across the curve as buyers returned after long-bond yields breached the 5% level, with traders citing the Iran peace outlook and falling oil prices. Oil benchmarks fell sharply as crude prices dropped, supported by record U.S. fuel exports tied to the closure of the Strait of Hormuz. Gold and silver increased as the combination of potential peace and lower oil supported precious metals.
Read at 24/7 Wall St.
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