US stocks poised for sharp open as US-Iran draft deal knocks Brent below $83 a barrel

The U.S. and Iran have reached an initial agreement to end their conflict, including lifting blockades, easing sanctions and dismantling Iran’s nuclear program, with signing planned for June 19 in Switzerland. After the news, Brent crude fell more than 4% to a two-month low below $83 a barrel, while gold jumped over 2.5% and the dollar index DXY slipped to around 99.5, a one-week low. Markets are betting the deal could materially cool inflation expectations and reduce the need for Federal Reserve rate hikes. The agreement has not been formally signed, leaving uncertainty over implementation.