Wall Street ended Monday, June 29, 2026, in positive territory as investors reacted to a temporary de-escalation in tensions between the United States and Iran. The relief came after a weekend of military clashes that had sharply increased uncertainty across global equity markets.
Trading remained nervous throughout the session, with major Wall Street indices shifting direction intraday before settling firmly in the green. The Dow Jones Industrial Average rose 327 points, or 0.63%; the S&P 500 gained 1.16%; and the Nasdaq Composite posted a stronger advance of nearly 2.07%.
On the exchange, Alphabet stood out with gains exceeding 4%, following its inclusion in the Dow Jones Industrial Average — a move welcomed by investors. Comcast also surged, with its stock climbing 7% after announcing plans to spin off its media and technology businesses into two separately listed companies. The separation is expected to be completed in about a year.
Market sentiment was driven primarily by a U.S.-Iran agreement on a temporary ceasefire and the restoration of free passage for commercial vessels through the Strait of Hormuz — a critical maritime chokepoint for global energy supplies. Because of its strategic importance to oil trade, any sign of military escalation in the region quickly reverberates in both oil prices and equity markets.
According to a U.S. official cited by CNBC, technical talks on a formal memorandum of understanding will continue, while both sides agreed to refrain from further actions for now. This development eased concerns about broader regional conflict — though it did not eliminate the risk of renewed flare-ups.
Tensions had previously escalated after U.S. airstrikes targeted Iranian military sites in retaliation for Iranian attacks in the Strait of Hormuz. Former President Donald Trump, in a post on Truth Social, stated that U.S. aircraft struck Iranian missile and drone storage facilities as well as coastal radar installations, accusing Tehran of violating the ceasefire agreement once again.