U.S. and Iran Near Agreement, Markets Broadly Higher

The major averages were broadly higher at midday following a report from Axios that the U.S. and Iran are nearing an agreement to end the war. Crude has gone from the primary headwind to a tailwind almost overnight, falling back below $100. Q1 growth is tracking near 25%-30%, one of the strongest rates since 2021, and estimates for the next 12 months are still being revised higher. AI remains the center of gravity with semis and hyperscalers leading again, with AMD becoming the latest AI-linked supplier to post a strong print.1. STOCK NEWS:Disneyreportedand provided its outlook for FY26 and FY27AMDreportedand provided upbeat Q2 revenue guidanceCVS Healthprovided areport for Q1Uberreported, with gross bookings up 25% year-over-yearCorningand Nvidiaannounced a, with Nvidia getting a warrant to buy up to 15M Corning shares2. WALL STREET CALLS:AMDto Buy or equivalent ratings at Goldman Sachs, Bernstein and Seaport after its Q1 earnings beatPalantirto Buy at Argus amid accelerating revenue growthMonster Beverageto Buy at Rothschild & Co RedburnRedditto Accumulate from Buy at Phillip SecuritiesTransMedicsto Perform at Oppenheimer3. AROUND THE WEB:DeepSeek is nearing a $45B valuation amid investment talks, FT reportsSamsung'smarket cap surpasses $1T, Reuters reportsAppleis in a $250M settlement over its delayed "AI Siri," FT saysIAC'sBarry Diller said he would "absolutely" buy CNN, WSJ reportsPayPalplans to cut 20% of its staff in the next few years, WSJ says4. MOVERS:Oscar Healthrises after the company reportedDaVitahigher after providing anLive Nationgains after multiple analystson the stock following Q1 resultsFreshworkslower afterCencorafalls despite provided areport for Q25. EARNINGS/GUIDANCE:Kraft HeinzreportedJohnson Controlsprovided aDeluxereportedAngireportedLumentumreportedINDEXES:Near midday, the Dow was up 1.10%, or 544.16, to 49,842.41, the Nasdaq was up 1.47%, or 373.51, to 25,699.63, and the S&P 500 was up 1.10%, or 80.16, to 7,339.38.