US markets rally on Iran deal progress and strong tech earnings, Nasdaq set for record highs

US stock futures surged ahead of the open, with the Dow Jones up over 500 points and Nasdaq futures leading gains at 1.4%, driven by strong earnings from AMD and Super Micro Computer. Market optimism is fueled by reports that the US and Iran are close to a preliminary agreement to end conflict and resume nuclear talks, which has eased geopolitical tensions. President Trump announced a pause in military movements through the Strait of Hormuz to facilitate the deal, leading to a sharp drop in oil prices and a rise in gold. Investors are watching closely as both sides are expected to respond on key points within 48 hours, marking the closest progress since the conflict began.