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US:

US stocks climbed and crude oil prices plunged as investors took comfort in Iran’s relatively measured retaliation to American airstrikes over the weekend.

Asia:

Asian markets were trading higher on Tuesday after US President Trump announced that Iran and Israel have agreed to a ceasefire.

India:

Market ended lower on Monday despite recovering from the sharp intraday lows that were triggered by the escalating geopolitical tensions. Market is expected to open on a gap up note and likely to witness positive move during the day.

Global Economy:

U.S. President Trump on Truth Social said that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY WAR." According to Trump’s post, the ceasefire will begin approximately six hours after his announcement, when both nations have "wound down and completed their in progress, final missions." Trump stated that upon the 24th hour, there will be an "Official END" to the conflict. During each ceasefire period, Trump noted that "the other side will remain PEACEFUL and RESPECTFUL."

U.S. existing home sales unexpectedly increased in May, but the trend remained weak amid high mortgage rates. Home sales climbed 0.8% last month to a seasonally adjusted annual rate of 4.03 mn units, the National Association of Realtors said. Economists polled by Reuters had forecast home resales falling to a rate of 3.95 mn units

Commodities:

Oil prices tumbled on Tuesday to their lowest level in more than a week as U.S. President Donald Trump said a ceasefire has been agreed between Iran and Israel, relieving worries of supply disruption in the area. Gold hit a near two-week low on Tuesday after U.S. President Donald Trump announced that Iran and Israel had agreed to a ceasefire to end their 12-day conflict, reducing safe-haven demand for the metal.

Currency:

The dollar fell on Tuesday while the Australian and New Zealand dollars rose after Donald Trump announced a ceasefire between Israel and Iran, in news that sent investors cheering and sparked a risk rally across markets.

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