breaking

Markets Extend Rally as Iran Conflict Truce Hopes Lift Risk Assets

Global equity markets extended their winning streak Friday as optimism over a potential ceasefire in the Iran conflict buoyed investor sentiment. The S&P 500 completed its ninth consecutive weekly gain, marking its longest rally since 2023. The advance reflected broad-based strength across risk assets, with high-yield debt rallying alongside Treasury gains. Energy markets showed particular volatility, with Brent crude closing at $92 per barrel after declining more than 16% throughout May. Market participants attributed the sustained rally to expectations that diplomatic resolution could be within reach. This eased concerns about supply disruptions and broader economic headwinds tied to the three-month military conflict.