U.S.-Iran Nuclear Progress Lifts Stocks and Gold as Bitcoin Stays Flat

Progress in U.S.-Iran nuclear talks sent U.S. stocks and gold higher and crude lower, while Bitcoin was $75,255 at 6:58 p.m. ET Nov. 9 (23:58 UTC), leaving crypto outside the broader market rebound.

A proposed framework would let Iran maintain uranium enrichment at levels up to 3.67%, a limit Tehran has accepted. Discussions are also underway about the return of International Atomic Energy Agency (IAEA) inspectors to Iran, and an initial agreement on enrichment levels may be reached.

In Monday's U.S. session, the S&P 500 recorded its largest one-day gain in seven months, while it and the Dow Jones Industrial Average each closed more than 2% higher. A semiconductor index climbed nearly 7%, extending its two-day gain to 11%.

Brent crude fell nearly 8% at its session low, and U.S. crude slid more than 6%. Gold, silver and copper rebounded as the dollar index declined.

President Donald Trump said after meeting Qatar's prime minister Monday that military action was unnecessary for now, while the United States remained ready to act if conditions in the Middle East changed.