Oil Prices Drop as Nasdaq Rallies Following Iran Negotiation Resumption
U.S. equities experienced a relief rally as oil prices fell sharply after President Trump called off a planned military strike on Iran, opting instead to resume negotiations. West Texas Intermediate crude dropped nearly 6%, while Brent crude fell by 4.7%. This decline in oil prices led to a decrease in Treasury yields, with the 10-year yield falling to 4.69%. The stock market responded positively, with the S&P 500, Dow Jones, and Nasdaq 100 all posting gains. The ISM Manufacturing PMI also showed strong growth, contributing to the positive market sentiment. 
