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Equities Extend Rally on Middle East Peace Optimism

U.S. stocks advanced for an eighth weekly gain, marking their longest winning streak since 2023. Investors grew more confident that diplomatic efforts between Washington and Tehran could solidify a fragile ceasefire into a durable agreement. Declining bond yields and lower oil prices reflected the market's improved sentiment around regional stability. The broader rally extended into old-economy equities as traders rotated capital across sectors. Market participants remained focused on the sustainability of gains, with some observers cautioning that elevated valuations warrant reduced exposure to momentum-driven positions. The S&P 500 headed toward the extended holiday weekend on solid footing, though analysts warned that enthusiasm has pushed certain asset classes to steep price levels.