The ASX 200 experienced a significant surge, reaching a two-month high, as the US and Iran's interim deal to end hostilities and reopen the Strait of Hormuz sent oil prices plummeting and gold prices soaring. This deal, coupled with a 23% plunge in oil prices over the past 20 trading sessions, has had a profound impact on various sectors and stocks. Oil and gas, coal, and energy stocks took a hit, while materials, real estate, and financial sectors saw a boost. The Gold Sub-Index witnessed its 15th largest single-day gain on record, with gold and silver futures soaring. Materials stocks, including Capstone Copper, Sandfire Resources, and Nickel Industries, led the pack. Uranium and lithium stocks also saw significant gains, while energy stocks took a hit due to lower oil prices. The real estate sector benefited from falling bond yields, and financial stocks rebounded on improved economic outlooks. Information technology stocks also performed well, while energy stocks suffered due to lower oil prices. The article concludes with a detailed analysis of the Nasdaq Composite Index and the S&P/ASX 200, offering insights into the market's performance and key levels to watch. It also highlights the impact of the US-Iran deal on various sectors and stocks, providing a comprehensive overview of the market's movements and trends.
