Global Stocks Rally As Oil Sinks 7% On Iran Deal Hopes: Stock Market Today

U.S. equity markets are dark Monday for Memorial Day, but global risk assets are roaring. S&P 500 futures moved sharply higher, European bourses rallied to 4-month peaks and crude plummeted as Washington and Tehran inch toward a deal that could reopen the Strait of Hormuz. “Negotiations with the Islamic Republic of Iran are proceeding nicely! It will only be a Great Deal for all or, no Deal at all,” President Donald Trump said on Truth Social on Monday morning. Yet, the optimism is fragile. The Wall Street Journal reported that talks bogged down Monday over language on Iran’s nuclear program…