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The major averages closed sharply higher in a relief rally after the announcement of a two-week ceasefire between the U.S. and Iran before a key escalation deadline. Crude oil fell over 15% to roughly $95 per barrel, effectively reversing the inflation shock that had been tightening financial conditions throughout March and early April.However, the Strait of Hormuz is only partially reopening and structural supply disruptions haven't fully cleared. Additionally, the speaker of the Parliament of Iran, Mohammad Bagher Ghalibaf, said this afternoon that the country's ceasefire with the U.S. has already been violated, according to Bloomberg. Ghalibaf said three clauses of the ceasefire had been violated so far.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Deltareported, with the company noting that it expects Q2 non-fuel unit costs growth similar to Q1Levi Straussprovided areport for Q1Bed Bath & Beyondsubstantially all assets of F9 Brands for $150MShellprovided, citing uncertainty around the "ongoing situation" in the Middle EastIn minutes for the latest FOMC meeting, the Federal Reserve stated that theof the FOMC thinks inflation progress may be slower, with some Fed members seeing the possibility of a rate hike2. WALL STREET CALLS:Coinbaseto Underweight at BarclaysFreshpetto Buy at TD CowenT-Mobileto Buy at MoffettNathansonGeneral Dynamicsto Hold at Deutsche BankSeaport says Broadcom"still in the pack,"to Neutral3. AROUND THE WEB:AbbVieis suing the White House over its discount drug program, Axios reportsA pro-Iranian cybercrime outfit has claimed responsibility for hacks of Chimeand Pinterestthat forced the websites of both companies offline, Bloomberg saysThe Trump administration has rejected requests from Ford Motorand other U.S. automakers for relief from the tariffs on aluminum after two fires at the Novelis aluminum plant in Oswego, New York took the facility out of commission until at least this June, WSJ reportsGreece will prohibit access to social media for children under the age of 15 starting January 1, 2027 due to rising anxiety, sleep issues and the addictive design of the sites, Reuters saysTikTok, whose U.S. business counts Oracleas an investor, intends to invest $1.16B to build a second data center in Finland as it moves data storage for European users to the continent, Reuters reports4. MOVERS:Applied Materialswas higher afterRichtech Roboticsincreased after announcing awith NewConsultancyMeta Platformsgained after launching itsSM Energylower after Roth Capitalthe stock to NeutralExxon Mobilfalls after announcing it sees 6% of upstream production5. EARNINGS/GUIDANCE:Sealsqprovidedand backed its guidance for FY26RPM, with EPS and revenue beating consensusKura Sushiand raised its guidance for FY26Nurix Therapeutics, with EPS missing consensusAehr Test Systemsand backed its guidance for the second half of the yearINDEXES:The Dow rose 1,325.46, or 2.85%, to 47,909.92, the Nasdaq gained 617.15, or 2.8%, to 22,635, and the S&P 500 advanced 165.96, or 2.51%, to 6,782.81.

The major averages were sharply higher near noon in a relief rally as a geopolitical pivot has flipped sentiment. The announcement of a two-week ceasefire between the U.S. and Iran before a key escalation deadline has triggered a broad risk-on move across global assets. Crude oil is down over 15%, falling to roughly $95 per barrel, effectively reversing the inflation shock that had been tightening financial conditions throughout March and early April.However, this rally is built on a temporary ceasefire and not a permanent resolution. The Strait of Hormuz is only partially reopening, and structural supply disruptions haven't fully cleared. Any breakdown in talks could quickly reintroduce volatility, but for now the VIX has moved to recent lows.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Deltareported, with the company noting that it expects Q2 non-fuel unit costs growth similar to Q1Levi Straussprovided areport for Q1Bed Bath & Beyondsubstantially all assets of F9 Brands for $150MShellprovided, citing uncertainty around the "ongoing situation" in the Middle EastFollowing the announcement of a, travel stocks such as United Airlinesand Royal Caribbeanrose while energy stocks like Chevronand Occidentalfell2. WALL STREET CALLS:Coinbaseto Underweight at BarclaysFreshpetto Buy at TD CowenT-Mobileto Buy at MoffettNathansonGeneral Dynamicsto Hold at Deutsche BankSeaport says Broadcom"still in the pack,"to Neutral3. AROUND THE WEB:Stellantisis in discussions with Leapmotor to jointly develop an Opel-branded SUV that would use Leapmotor's technology while being produced at Stellantis' Zaragoza plant in Spain, Reuters reportsA pro-Iranian cybercrime outfit has claimed responsibility for hacks of Chimeand Pinterestthat forced the websites of both companies offline, Bloomberg saysThe Trump administration has rejected requests from Ford Motorand other U.S. automakers for relief from the tariffs on aluminum after two fires at the Novelis aluminum plant in Oswego, New York took the facility out of commission until at least this June, WSJ reportsGreece will prohibit access to social media for children under the age of 15 starting January 1, 2027 due to rising anxiety, sleep issues and the addictive design of the sites, Reuters saysTikTok, whose U.S. business counts Oracleas an investor, intends to invest $1.16B to build a second data center in Finland as it moves data storage for European users to the continent, Reuters reports4. MOVERS:Applied Materialshigher afterRichtech Roboticsincreases after announcing aOscar Healthgains after itsSM Energylower after Roth Capitalthe stock to NeutralExxon Mobilfalls after announcing it sees 6% ofby the Middle East in Q15. EARNINGS/GUIDANCE:Sealsqand backed its guidance for FY26RPM, with EPS and revenue beating consensusKura Sushiand raised its guidance for FY26Nurix Therapeuticswith EPS missing consensusAehr Test Systemsand backed its guidance for the second half of the yearINDEXES:Near midday, the Dow was up 2.72%, or 1,265.18, to 47,849.64, the Nasdaq was up 2.96%, or 651.55, to 22,669.40, and the S&P 500 was up 2.47%, or 163.69, to 6,780.54.