U.S. stocks extended their mid-week rebound on Wednesday, with all three major indexes advancing as crude oil prices retreated sharply on reports that Washington is pursuing diplomatic talks with Tehran — even as Iranian officials formally denied any progress. Reports that the U.S. had delivered Iran a 15-point proposal and was seeking a one-month ceasefire to facilitate talks proved sufficient to spark a broad-based relief bid across equities. WTI crude declined 3% to $89.62 per barrel, recovering slightly from overnight lows near $86.50, while Brent crude fell 3.3% to $101.04. The S&P 500 gained 0.7% to 6,599, while the Dow Jones Industrial Average added 344 points, or 0.8%, to 46,468. The tech-heavy Nasdaq 100 gained nearly 200 points to 24,200, up 0.8%. The Russell 2000 outperformed, rising 1.2%, eyeing its third straight session of gains. Across U.S. equity markets by midday Wednesday, gains were broad-based. Ten of eleven S&P 500 sectors advanced, with Financials the lone exception, slipping marginally into the red. The yield on the 10-year U.S. Treasury note retreated to 4.32%, shedding around 5 basis points from Tuesday’s close, as bond markets recalibrated their inflation assumptions in response to the pullback in oil. The 2-year yield eased to 3.88%, while the 30-year note slipped to 4.89%. Wednesday’s Performance In Major US Indices According to the Benzinga Pro platform: Gold Miners Glitter, Chip Stocks Surge As Iran Optimism Reshapes Wednesday’s Winners The only sector in the red was the Financial Select Sector SPDR Fund (NYSE:XLF), which edged 0.1% lower. Among industry ETFs, the VanEck Gold Miners (NYSE:GDX) surged 3.8% as bullion’s advance lifted producers across the board. Wednesday’s Russell 1000 Top Gainers Wednesday’s Russell 1000 Top Losers Image: Shutterstock © 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. To add Benzinga News as your preferred source on Google, click here.
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International mediators have proposed a 10-day ceasefire between the United States and Iran, according to a senior Iranian official cited in reports. The measure is described as intended to reduce hostilities and allow renewed talks on a prior interim agreement.
Both sides are assessing next steps in the current regional security situation.
Reports indicate that a US-Iran ceasefire has broken down amid renewed fighting, with the potential impact of mediation efforts by Pakistan, Qatar, and Oman remaining unclear. Earlier diplomatic steps included a June memorandum of understanding between the parties for further negotiations and talks hosted in Geneva in February.
The summary also references Europe’s historical role in diplomacy, including the 1814-15 Congress of Vienna.
Donald Trump stated in a Fox News interview that his representatives had spoken with Iranian officials an hour earlier and that those officials wanted to make a deal to end the conflict, though he noted they had broken prior agreements and expressed uncertainty about whether one would be reached.
He added that people do not want to die and that Iran would need to proceed carefully to avoid further losses. The remarks come amid an ongoing US-Iran conflict that has involved casualties and shipping disruptions in the Strait of Hormuz, with some social media users criticizing the repetition of similar statements.
Why the Iran-US ceasefire is falling apart Iran and the US have resumed fighting because they don’t see each other as ‘reliable negotiating partners’, says analyst Ali Vaez. Neither Iran nor the United States seems able to deliver a “knockout blow at an acceptable price” to the other side, and both know “they have no choice other than engaging in diplomacy”, but they’re not ready to make uncomfortable concessions, argues Ali Vaez, director of the Iran Project at International Crisis Group.
Vaez tells host Steve Clemons that Tehran and Washington are trying to “enforce their own interpretation” of the ceasefire agreement they signed last month. President Trump has become “frustrated” with diplomacy because he’s not seeing “the kind of quick results that he likes to see”, Vaez says.