Iran Deal Hopes Fuel Market Rally, But Fed Fears Lurk Beneath the Surface

The Dow Jones soared 1,000 points to a record high, with the S&P 500 rising 1.7% to its own record, after Treasury Secretary Scott Bessent signaled an Iran deal could come "today or tomorrow." This geopolitical optimism crushed oil prices—WTI crude fell 5.2% to $76.20—which in turn eased inflation fears and sent Treasury yields tumbling. Strong earnings from Caterpillar (up ~10%) and Palantir (up nearly 30%) added fuel, with the **ISM Manufacturing Index...