Latest Irish Life weekly markets update

Key talking points include:

• Markets rallied strongly for the second week in a row as signs of de-escalating conflict in the Middle East and a subsequent drop in oil prices boosted investor sentiment.
• The S&P 500 rose by 3.6% (MTD 3.7%, YTD -0.4%) while the Euro Stoxx 600 rose by 3.1% (MTD 2.9%, YTD 3.8%).
• Over the weekend, US Vice President JD Vance announced that talks had stalled following Iran's refusal to relinquish its nuclear ambitions. President Trump announced that the US would immediately block traffic on the strait of Hormuz for any ships that had paid Iran for passage. Viktor Orbán conceded defeat in the Hungarian elections marking the end of a 16 year stint in power.
• This week, markets will continue to watch developments in the Middle East, European Inflation data is released, Washington hosts peace talks between Israel and Lebanon and earnings season kicks off with the big US banks taking centre stage.