Wall Street closes higher as chip stocks rally and Iran deal drags oil to March low

The U.S. and Iran signed an interim agreement extending the April ceasefire by 60 days, sending oil prices to their lowest level since early March. Intel surged more than 10.5% in a single session to a record high, helping lift the Nasdaq nearly 2% to lead the major indexes. Apple said it would work with Intel to design and manufacture chips in the U.S. Goldman Sachs’ chief investment officer said falling energy prices may not quickly ease cost pressures for soft commodities such as fertilizer.