Market Rally Fueled by Iran Peace Plan and Cheaper Oil

The VIX index fell 5% to 25.6 on Wednesday, driven by a reported US peace plan for Iran and a 5% drop in oil prices to $87 WTI. This led to a 0.6% gain in the S&P 500, a 0.7% rise in the Dow and Nasdaq, and a 1.2% gain in the Russell 2000. The moves were seen as positive for CPU demand, with Arm, Intel, and AMD rising, and Sarepta Therapeutics gaining on plans to file for FDA approval of two Duchenne muscular dystrophy therapies.