Stocks Gain as US, Iran Weigh Ceasefire Extension by Two Weeks

Good morning. Stocks gain as the US and Iran consider extending their ceasefire. India’s second-largest automaker sets its sights on South Africa. And Indonesian prosecutors demand a 10-year sentence for eFishery’s founder. Listen to the day’s top stories.

The S&P 500 climbed to a record on hopes for a Middle East peace deal as Washington and Tehran are said to be considering extending their ceasefire by two weeks to allow more time to negotiate. That may bode well for relations between China and the US, as Donald Trump’s Strait of Hormuz blockade risks escalating tensions between the two superpowers ahead of a summit with Xi Jinping. Also in focus: a series of suspiciously well-timed oil trades that the top US derivatives regulator is said to be investigating.