U.S. Stocks and world shares advanced on Friday following a significant drop in oil prices after President Donald Trump canceled planned military strikes against Iran. According to The New York Times, Trump claimed there was a breakthrough in talks to end the war, while the Northeast Mississippi Daily Journal reported that Trump stated a potential deal with Iran may be imminent. Oil prices fell sharply in response to these developments. The New York Times reported that oil prices sank more than 4%, while The Times of Israel stated that both major oil futures contracts were down more than three percent. The Northeast Mississippi Daily Journal reported the price of Brent crude oil fell 3.4% to $87.33 per barrel. The Northeast Mississippi Daily Journal noted that a deal to end the war could reopen the Strait of Hormuz, a key waterway that has remained largely closed since the war began, potentially easing global inflationary pressures caused by high oil prices. Wall Street saw a positive reaction to the news. The Northeast Mississippi Daily Journal reported that the S&P 500 rose 0.5% to close its 10th winning week in the last 11, while the Nasdaq composite gained 0.3%. The Dow Jones Industrial Average rose, with The Times of Israel reporting a 1.7 percent increase to 50,753.64 and the Northeast Mississippi Daily Journal reporting a 353-point climb to 51,202.26. Also, SpaceX saw a 19.2% leap in its debut on Wall Street, reaching a total value of $2.1 trillion. International markets also rallied. The Northeast Mississippi Daily Journal reported that South Korea’s Kospi jumped 4.6%, Tokyo’s Nikkei 225 rose 2.8%, and France’s CAC 40 climbed 1.8%. In the bond market, the Northeast Mississippi Daily Journal reported that the yield on the 10-year Treasury climbed to 4.48% from 4.45% late Thursday.