US Stock Market Live Updates: Dow, S&P 500, and Nasdaq Futures Surge After US-Iran Truce Breakthrough

UK stocks edged higher on Monday, supported by improved global risk sentiment following a preliminary peace agreement between the United States and Iran. The news led to a fall in oil prices, which often react to geopolitical tensions in the Middle East. The easing of conflict concerns boosted investor confidence in risk assets, contributing to the positive market movement in the UK.

Gold rose after the US and Iran announced an interim deal to end hostilities and reopen the Strait of Hormuz, easing global inflation fears and potentially tempering expectations for interest-rate hikes.

Bullion jumped as much as 2.7% to above $4,330 an ounce after US President Donald Trump said on social media that "The Deal with the Islamic Republic of Iran is now complete." Iran's deputy foreign minister confirmed the agreement, which will be signed on Friday in Switzerland. The precious metal had fallen 2.5% last week.

Inflation worries kept investors cautious even as bonds and stocks rallied on Monday after a US-Iran interim deal eased nerves, with market participants warning that the conflict's economic fallout remains unresolved, according to Bloomberg reports.

The MSCI Asia Pacific Index climbed as much as 3.2%, while Brent crude, 10-Year Treasury yields, and the dollar declined. Yet, strategists at KCM Trade, Pepperstone Group Ltd., and Stifel Nicolaus said the agreement is more likely to create a short-term trading opportunity than mark the start of a longer-term rally.