Wall Street opens higher on Iran deal hopes

Wall Street opens higher on renewed optimism that a deal between the US and Iran is nearing completion, potentially reopening the Strait of Hormuz. A report from the news website Axios says the White House believes it may be closing in on a memorandum of understanding with Iran. Earlier, President Trump posted on Truth Social that 'great progress has been made toward a complete and final agreement' with Tehran, while also making it clear there was still a way to go. Brent crude fell over 10 percent on the news. Investors are also buoyed by strong earnings reports from AMD, Disney, and Uber, as well as a positive report on private-sector hiring.