S&P 500 and Nasdaq gain more than 1% as U.S.-Iran tensions ease and tech shares rebound
AI Market Summary
Easing U.S.-Iran tensions and progress toward an interim peace framework reduced geopolitical risk, supporting a broad U.S. equity rebound. Major tech and communications names led gains amid a relief rally after recent AI-related selling, with quarter-end positioning also cited as a tailwind. RBC's higher 12-month S&P 500 target reinforced the constructive macro/earnings backdrop heading into Q2 reporting season.
Impact level
● Medium
Affected assets
NCSISP5002USD/USDT+1.00%
AI Insight · NCSISP5002USD/USDTAI Insight
▲ Bullish
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On June 29, U.S. stocks rose after weekend hostilities between the United States and Iran eased, with technical teams from both sides set to hold talks in Doha on an interim peace deal. Tech shares rebounded sharply, lifting the Nasdaq 1.84%, the S&P 500 1.07% and the Dow 0.69%. Comcast, SpaceX and Alphabet were among the leading gainers. RBC raised its 12-month S&P 500 target to 8,150 points.
