US stocks open higher on Iran-deal hopes, led by a relentless Micron and tech rally
US stocks opened higher on hopes that an Iran deal may be near, led by a continued Micron-fuelled tech rally, CNBC reports. The S&P 500 rose 0.9% last week to extend its longest weekly winning streak since late 2023.
US stock markets opened higher amid optimism that a deal between Washington and Tehran may be near, CNBC reported. The dominant driver was a relentless rally in technology shares, led by memory-chip maker Micron and fuelled by demand tied to artificial intelligence.
The S&P 500 rose 0.9% last week, extending its longest weekly winning streak since late 2023. Investors are pricing in the possibility that a diplomatic resolution, despite the risk of further escalation in the Middle East, could ease pressure on energy prices and inflation.
Analysts cautioned that the rally rests heavily on a handful of large technology names and remains sensitive to headlines; a sudden reversal on the Iran front could quickly erase gains. This article is for information only and is not investment advice.
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