Markets feel relief as the U.S. and Iran agree to a ceasefire on their earlier ‘ceasefire’ that was looking at lot like a war over Hormuz

The U.S. and Iran agreed to a ceasefire after escalating violence in the Persian Gulf, prompting stock futures to rise while energy markets remained volatile. Attacks on Kuwait and Bahrain occurred, but a meeting in Qatar was scheduled to resolve disputes over the Strait of Hormuz. President Donald Trump issued threats against Iran, and the U.S. Navy demonstrated the safety of an alternate shipping route.