03:39 PM EDT, 06/12/2026 (MT Newswires) -- (Updates with index/price moves and Iran peace deal talks from the first paragraph.)

US equity indexes advanced as expectations grew that an interim peace deal to end the war in Iran is close after Tehran reportedly confirmed discussions over the terms are in the final stretch.

The Dow Jones Industrial Average rose 0.8% to 51,227.1, followed by a 0.4% increase in the S&P 500 to 7,425.2, and a 0.3% increase in the Nasdaq Composite to 25,881.5 ahead of the close on Friday.

All sectors except consumer discretionary and healthcare advanced. Materials, financials, and energy led the gainers.

Iran is in the final stages of discussing the terms of an agreement with the US, CNN cited Iranian Foreign Ministry spokesperson Esmaeil Baghaei as saying in state media on Friday. "At present, understanding has been reached on the majority of issues, and we are in the final stage of internal deliberations," CNN cited Baghaei as saying.

"With close observation of the other side's positions, we will announce our stance according to circumstances," the spokesperson was cited as saying. "Even as I am speaking with you now, meetings among the relevant institutions are underway."

Crude oil futures slumped, with front-month global benchmark North Sea Brent sliding 3.8% to $86.98 per barrel. The US West Texas Intermediate dropped 3.7% to $84.45 per barrel.

Meanwhile, in company news, shares of Space Exploration Technologies ( SPCX ) or SpaceX opened at $150, above its initial public offering price of $135 apiece, making Elon Musk the world's first trillionaire. Shares traded 23%.