Big tech stocks jumped in premarket trading. Micron, AMD, SMCI up about 5%; Broadcom, TSMC up over 3%; Oracle, Nvidia, Palantir, Meta up over 2%.
The US and Iran said they reached an interim agreement to reopen the Strait of Hormuz, halting a war that killed thousands of people and setting the stage for 60 days of negotiations on the fate of Tehran’s nuclear program.
Officials from the two countries will meet in Switzerland on June 19 to formally sign the agreement, a decision that suggests aspects of the deal remain unresolved. Neither side has released a text, leaving key sticking points for the next stage of talks.
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