Ed Elson

It is April 9th.

Let's check in on yesterday's market vitals.

The major indices rose on news of the ceasefire.

More on that in a second.

Brent crude plummeted, the dollar fell, and Metastock popped more than 8% after releasing its new AI model, MuseSpark.

Okay, what else is happening?

The U.S.

and Iran agreed to a two-week ceasefire, making yet another Taco Tuesday.

The two countries came to an arrangement just hours after Trump threatened to annihilate Iran.

Under the deal, the U.S.

agreed to suspend strikes, and Iran said it would reopen the Strait of Hormuz.

Markets celebrated the news.

The S&P 500 and the Nasdaq surged nearly 2.5%, and the Dow jumped more than 1,300 points on Wednesday.

Meanwhile, crude fell from $110 to $90 overnight before settling around $95.

However, the ceasefire is already showing cracks.

Iran halted oil tanker passage through the Strait after Israel attacked Lebanon.

Iran and Pakistan claim the deal covers Lebanon, while the U.S.

and Israel say it doesn't.

Iran's parliament speaker also claimed the U.S.

has already violated three clauses of the proposal.