Erica Herskowitz

Although there's still no deal, U.S.

Secretary of State Marco Rubio cautioned reporters in India today not to read too much into it.

Either way, Rubio says it'll take time.

Negotiators are still working through precise language on key issues, including Tehran's demand that its assets be unfrozen.

Meanwhile, oil keeps falling as the U.S.

makes progress toward a deal with Iran.

Brent crude down more than 5 percent at $98 a barrel.

And global stocks are surging.

The FTSE in London closed ahead nearly a quarter of a percent.

The CAC in Paris, up nearly 2%.

The DAX in Germany, 2% higher.

And the Nikkei in Japan led a rally in Asia, closing above 65,000 for the first time.

It was up 2.8%.

The Hang Seng in Hong Kong added a tenth of a percent.

China's CSI 300 gained one and a half percent.

U.S.

markets are closed for Memorial Day.

President Trump laid a wreath at the Tomb of the Unknown Soldier this morning at Arlington National Cemetery in Washington to mark the occasion.

About 250,000 flags were also placed at headstones across the cemetery.

It's been an annual tradition since 1948.