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President Trump said on Friday that said a deal has been hard to reach in part because Iranian leadership was "very confused".
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Months into the operation and with midterms looming, some lawmakers are calling for Congress to restrain the president's war power or set terms for bringing the conflict to a close.
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Energy markets remained disrupted by turmoil in the Middle East, while the S&P 500 posted its best month since November 2020.
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The details of the latest plan were unclear, and President Trump did not specify his objections.
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President Donald Trump on Friday sent letters to Congress explaining that, due to the ceasefire, he doesn't need its authorization for military operations in Iran, even though the conflict hit the 60-day mark this week."On April 7, 2026, I ordered a two-week ceasefire.
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Iran warned President Trump's naval blockade was "doomed to fail" as oil prices soared to their highest point in years with the standoff over the Strait of Hormuz wreaking havoc on the global economy.
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The index's outsized gains have been driven largely by optimism around the artificial intelligence boom.
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The war in Iran has disrupted supplies of diesel, used to power trucks and heavy equipment, much more than gasoline, which is primarily used in passenger cars.
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