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Stocks Climb, Oil Falls on US-Iran Talk Reports

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April 24, 2026

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Peter Tchir, Head of Macro Strategy at Academy Securities, talks investing through the fog of war.

Hopes that the US and Iran will be back to the negotiating table drove stocks toward all-time highs, with the market also gaining after a blowout forecast from Intel Corp. and the closing of a probe into Federal Reserve Chair Jerome Powell.

The advance put the S&P 500 on track for its fourth straight week of gains, its longest winning run since October 2024. President Donald Trump will send US special envoy Steve Witkoff and Jared Kushner to Pakistan for talks with Iranian Foreign Minister Abbas Araghchi this weekend, CNN reported, citing two administration officials. US crude dropped to $93.

Iran’s Foreign Minister Abbas Araghchi is due in Islamabad on Friday and a second round of peace talks with the US and Iran is expected, according to officials in Pakistan familiar with the matter. He’ll convey Tehran’s considerations in ending the war, Tasnim news agency said.

“Part of the reason for the bounce is due to the news that Pakistan is saying that talks could resume between the US and Iran as soon as today,” said Matt Maley at Miller Tabak. “A further rally in the tech sector is also helping the markets.”

Bond yields fell as the Justice Department’s decision on Powell potentially cleared a path to Kevin Warsh’s confirmation as the next Fed leader, with traders boosting bets on rate cuts.

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Guests & Subjects Covered

Peter Tchir HeadMacro StrategyAcademy SecuritiesIntel CorpPresident Donald TrumpSteve WitkoffJared KushnerMatt Maley

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