Mumbai, May 26 -- The S&P 500 climbed 0.9% last week to notch its longest weekly winning streak since late 2023. The Dow climbed 2.1%, marking its third weekly gain in four weeks. The Nasdaq rose 0.5% last week, its seventh in eight weeks.

Trump said negotiations with Iran were "proceeding in an orderly and constructive manner." Meanwhile, regional officials told The Associated Press on Sunday that the United States is close to reaching a deal with Iran that would end the war, reopen the Strait of Hormuz and see Iran give up its stockpile of highly enriched uranium, reopening the Strait of Hormuz will help decide the direction of oil prices. Its closure due to the war has prevented oil tankers from exiting the Persian Gulf and delivering...