Dow Surges 600 Points as US-Iran Talks Send Oil Prices Tumbling

The Dow Jones Industrial Average gained roughly 600 points after reports emerged of meaningful progress in US-Iran nuclear negotiations. The prospect of a deal raises the likelihood of Iranian crude returning to global markets, which sent oil prices sharply lower on the day. The S&P 500 and Nasdaq also advanced strongly, as cheaper energy is generally seen as a tailwind for the broader economy and corporate margins. Airlines, transportation stocks, and consumer-facing companies led the gains, as they stand to benefit most directly from lower fuel costs. Analysts cautioned that the situation remains fluid and any breakdown in talks could quickly reverse the market's optimism.