Tech Rally Fuels Four-Day S&P 500 Gain, BMO Warns of Ceasefire Risk
Tech stocks propelled the S&P 500 to a four-day winning streak as Micron Technology led chipmaker gains, while US crude held near $112 a barrel and 10-year Treasury yields stood at 4.34%. BMO Capital Markets warns that investor sentiment could shift sharply based on developments in Middle East ceasefire talks.
1. Market Rally Details
The S&P 500 extended its longest winning streak since January with a fourth consecutive gain, led by chipmakers after Micron Technology rallied. US crude oil hovered near $112 a barrel and the yield on 10-year Treasuries remained around 4.34%, supporting risk asset appetite.
2. Ceasefire Negotiations Update
Reports indicate US allies are pursuing a roughly 45-day ceasefire deal between Iran and the US by Tuesday’s deadline, with exchanges of messages but no agreement on a definitive end to hostilities. Tehran insists on guarantees to prevent renewed conflict before agreeing to any short-term pause.
3. BMO Capital Markets Perspective
Ian Lyngen at BMO Capital Markets cautions that markets remain vulnerable to shifting sentiment around Middle East developments. He notes that President Trump’s statements and any ceasefire outcome will likely have a clear impact on risk asset performance as the deadline approaches.