04:42 PM EDT, 06/15/2026 (MT Newswires) -- (Updates with index/price moves, macroeconomic data, and political/company news from the first paragraph.)

US equity indexes surged after Washington and Tehran reached an interim agreement that sets the stage for a reopening of the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.

The Nasdaq Composite surged 3.1% to 26,683.94, with the S&P 500 up 1.7% to 7,554.29, and the Dow Jones Industrial Average higher by 0.9% to 51,671.0 on Monday.

Technology, communication services, and consumer discretionary led the gainers, while energy was the standout decliner.

President Donald Trump and Vice President JD Vance both virtually signed the agreement to end a US blockade of Iranian ports, reopen the Strait of Hormuz, and start 60 days of nuclear negotiations, CNN reported, citing a senior US official.

No text of the memorandum of understanding between Washington and Tehran has been released yet, with Trump saying it will likely be publicly released after the signing ceremony, the news report said. Both sides have offered differing accounts on key issues, including Hormuz. Iran intends to collect certain "fees" in the critical waterway, while Trump said it would fully reopen on Friday without tolls, according to the news report.

The ceasefire in Lebanon - one of Iran's preconditions for a negotiated settlement - has been observed in the memorandum of understanding, Al Jazeera reported, citing Iran's Foreign Ministry spokesman, Esmail Baghaei. Tel Aviv won't withdraw from land seized in Lebanon, where it is fighting the Iranian-backed Hezbollah militant group, the Associated Press cited Israel's defense minister as saying on Monday.

Crude oil futures extended declines. Front-month global benchmark North Sea Brent fell 3.6% to $83.75 per barrel, and US West Texas Intermediate slid 3.4% to $81.48 per barrel.

Most US Treasury yields fell, with the 10-year slipping a basis point to 4.48% and the two-year down by 1.5 basis points to 4.07%.

In precious metals, gold futures jumped 2.4% to $4,341.52, while silver futures climbed 3.3% to $70.21.

In economic news, US industrial production rose by 0.1% in May, compared with expectations for a larger 0.3% increase in a Bloomberg-compiled survey, and following an upwardly revised 0.9% increase in April.

The National Association of Home Builders' monthly housing market index fell to 35 in June from a revised 37 in May, compared with expectations for a 37 print in a Bloomberg-compiled poll. The index was still above 32, as reported a year earlier.

In company news, Fox (FOX, FOXA) agreed to acquire Roku (ROKU) in a cash-and-stock deal that values the TV streaming platform at about $22 billion, creating a media and technology entity with one of the largest streaming businesses in the US. Shares of Fox slumped 17%, the worst performer on the S&P 500 and the Nasdaq.

Western Digital ( WDC ) shares jumped 16%, the top gainer on the S&P 500 and Nasdaq, after Morgan Stanley raised the company's price target to $650 from $488 while keeping its overweight rating, citing rising demand for Hard Disk Drives.