Wall Street Roars Back as Traders Buy the Tech Dip and Iran Peace Hopes Return

Wall Street flipped the script. The S&P 500 climbed 1.0%, the Nasdaq 100 jumped 1.3% and the Dow Jones Industrial Average added 1.1%, according to @KobeissiLetter on X. Across the board, US stocks tacked on more than $700 billion in market capitalization in a single session.

The engine was technology. Investors stepped in to buy the dip in tech stocks, the kind of move that has repeatedly paid off during this market's run. The Nasdaq 100's larger gain than the broader S&P 500 tells the story of where the money went.

Energy went the other way, hard. WTI Crude slid 6.5% and Brent dropped 7.0% as hopes for a US-Iran peace deal resurfaced, per the outlet. When traders sense the risk of a Middle East supply shock easing, oil is usually the first thing they dump.

Gold didn't get the memo. The metal rose 2.0% even as investors waded back into riskier assets, a reminder that plenty of money is still looking for a safe corner. Bond and currency markets weren't detailed in the update.

The big question now is whether the bounce sticks. One day of dip-buying and peace-deal chatter can fade fast, and oil's slide is a bet on headlines that haven't turned into a signed agreement yet. For now, though, the bulls showed up in force.