Stock Market Update

[BRIEFING.COM] The S&P 500 (+1.4%), Nasdaq Composite (+1.8%), and DJIA (+1.7%) are charting session highs this afternoon as a cooling of geopolitical tensions between the U.S. and Iran sends oil prices firmly lower.

President Trump told New York Post that the Iran agreement is "pretty much all wrapped up" after previously posting that tonight's scheduled military strikes have been called off. Crude oil futures settled today's session $2.12 lower (-2.4%) at $87.81 per barrel, which has prompted improvements across nearly all pockets of the market, except for the energy sector (-0.9%).

The information technology sector (+2.2%) has doubled its gain for the day, while the communication services sector (-0.1%) looks to reclaim its flatline after moving more than 1.5% lower.