Though attacks between Israel and Iran continued for a fourth day, with the former claiming "aerial superiority" over Tehran, investors became cautiously hopeful that the armed conflict would de-escalate. Iran reportedly reached out to other countries, including the U.S., to help mediate a ceasefire, which has been a high-priority topic at today's G7 Summit in Canada.

Pushing aside Friday's weekly losses, the Dow and Nasdaq rose triple digits, while the S&P 500 finished higher as well. Wall Street's "fear gauge," the Cboe Volatility Index (VIX) snapped a three-day win streak with a sharp 8.2% loss. 

COMMODITIES PULL BACK FROM SURGE

Oil prices fell amid easing Middle East tensions. July-dated West Texas Intermediate (WTI) crude dropped $1.21, or 1.66%, to close at $71.77 per barrel. 

Gold futures turned lower after hitting eight-week highs. U.S. gold futures fell 1% to settle at $3,417.30 per ounce. 

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