Iran and the US agreed to a 60-day ceasefire. Oil fell, stocks hit records, and Wall Street finally exhaled

Brent crude is on pace for its biggest monthly drop since March 2020 as Wall Street cheers a 60-day truce with Tehran

Michael M. Santiago / Getty Images

U.S. stock indexes climbed to record highs and oil prices fell after the U.S. and Iran agreed to a 60-day memorandum of understanding extending their ceasefire, according to CNBC.

Stock futures pointed to further gains on Friday, the final trading session of May. Futures for the Dow Jones Industrial Average added 81 points, equivalent to a 0.2% rise, with S&P 500 and Nasdaq $NDAQ 100 futures also edging up 0.1% apiece. Among energy contracts, Brent crude retreated 2% to........

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