The Globe and Mail reports in its Wednesday, June 25, edition that U.S. stocks rose over 1 per cent on Tuesday as investors reacted to a fragile truce between Israel and Iran and analyzed Federal Reserve Chair Jerome Powell's congressional testimony. A Reuters dispatch to The Globe reports that all major U.S. stock indexes posted solid gains for the second straight session following missile strikes on Iran's uranium assets. The Nasdaq 100 reached an all-time closing high, while the S&P 500 approached its record from Feb. 19. The S&P/TSX Composite also closed at an all-time high, though gains were less pronounced. Late Monday, U.S. President Donald Trump announced a ceasefire agreement, which Israel seemed to have violated. Nevertheless, investors interpreted the ceasefire rhetoric as a sign of decreasing tensions. AXS Investments chief Greg Bassuck says: "The bulls are out of their bucking shoots. The ceasefire really is adding fire to the stock market rally. We believe investors are wagering that calm in the Middle East is really a boon for stocks even as it weighs down bonds and oil prices." Crude prices slid on waning supply concerns related to the conflict, dragging energy shares lower.