Wall Street rebounds as U.S.-Iran truce extension lifts sentiment; Intel jumps nearly 10%

U.S. and Iranian officials signed an interim deal extending the April ceasefire by another 60 days, easing geopolitical risk sentiment. Oil slid to a more than three-month low, reinforcing expectations that inflation may have peaked, while chipmakers led gains with the Philadelphia SE Semiconductor index hitting a record high. Intel surged nearly 10% on news of a planned Apple partnership, and Nvidia, Micron and Marvell Technology all climbed more than 5%. The Dow, S&P 500 and Nasdaq rose 0.70%, 0.84% and 0.87%, respectively.