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Stocks Rally on US-Iran Ceasefire Extension Reports

U.S. equities reversed earlier losses Thursday after reports that American and Iranian negotiators reached an agreement to extend their ceasefire. The deal awaits presidential approval and sparked broad market gains, with stocks moving toward record highs. Oil prices retreated from earlier advances as traders reassessed supply concerns tied to the ongoing regional conflict. The dollar weakened against major currency peers following the diplomatic breakthrough announcement. Bond markets also climbed on the news. The reported agreement to extend the truce and work toward a broader settlement has provided relief to investors concerned about energy price volatility and geopolitical risks stemming from the conflict. Markets are now monitoring whether formal approval will be granted.