U.S. stock markets have experienced significant gains, with the Dow jumping over 400 points, fueled by optimism surrounding a fragile ceasefire between Israel and Iran. Oil prices have fallen sharply, dropping to levels not seen prior to the onset of the conflict, as fears of supply disruptions ease. The S&P 500 is nearing record highs, with tech and airline stocks leading the rally. Investors are celebrating the potential for reduced geopolitical risks, despite ongoing tensions in the region. As oil prices slide, there are also expectations of lower gas prices, which could benefit the travel sector. Overall, the markets are reacting positively to indications of peace in the Middle East, with traders keeping a close eye on developments.