Reports of a near-final US-Iran deal are pushing stocks up and oil down, which is good news for investors and consumers but leaves Iran's nuclear program unresolved.

• A 60-day agreement would reopen the Strait of Hormuz with no tolls and give Iran 30 days to clear any mines.
• The deal kicks the nuclear program down the road for separate talks, which is worse than before the war when inspectors tracked Iran's uranium.
• Stocks are broadening beyond big tech, with software names like Cloudflare, Palantir, and Snowflake leading the bounce.
• Oil dropped on the news and bond yields slipped, which should ease pressure on inflation and borrowing costs.
• Israel is still expanding strikes in Lebanon, possibly to make last-minute gains before the deal is signed.

Outlook: If Trump signs off in the next few days, expect oil to keep falling toward $60 and stocks to push higher, especially in software.