Diplomatic efforts between Washington and Tehran appear to be converging toward an agreement to conclude their conflict and restore access to the Strait of Hormuz. Simultaneously, SpaceX completed its highly anticipated public market launch, contributing to upward momentum in Friday’s trading session.
A high-ranking American official indicated the arrangement could receive signatures “within days.” The proposed agreement would address the reopening of the strategic waterway and the dismantling of Tehran’s atomic weapons program, according to official sources.
Pakistan has served as a key mediator throughout the negotiation process. Pakistani Prime Minister Shehbaz Sharif announced that a “final, agreed upon text” had been established, stating “peace has never been this close.”
Iranian Foreign Minister Abbas Araghchi declared that a settlement “has never been closer.” He noted both nations committed to “respect the sovereignty” of one another — representing the first such written American pledge in nearly five decades, according to his statement.
However, public messaging from both parties revealed significant discrepancies. President Trump declared on Truth Social that conditions Iran had communicated to journalists “have NOTHING to do with the terms that were agreed to, in writing.”
Iran’s diplomatic mission posted that the agreement’s ultimate provisions “have not yet been determined.” Iranian government media suggested the preliminary framework would encompass American sanctions relief and military withdrawal from the region surrounding Iran.
Vice President JD Vance disputed claims of monetary payments. He stated “the Iranians are not receiving any cash” merely for executing an agreement.
Reuters indicated that the UAE had consented to unlock $10 billion for Iran, with more than $3 billion already transferred. The UAE contradicted this report, clarifying that no frozen Iranian assets had been “released, transferred, or facilitated.”
U.S. Treasury Secretary Scott Bessent suggested an agreement might materialize “as soon as this weekend or Monday” and would generate reduced energy costs. Trump is working to finalize the arrangement before Monday’s G7 summit.
U.S. Central Command verified it intercepted Iranian unmanned aircraft threatening commercial shipping in the strait Friday, though confirmed the passage “remains open for transit.”
Israeli Prime Minister Benjamin Netanyahu clarified Israel is not participating in the discussions but maintains coordination with Washington on preventing Iran from acquiring nuclear capabilities.
SpaceX commenced trading Friday with shares initially priced at $135 apiece. Trading began at $150 and concluded 19% higher at $160, establishing the company’s market capitalization near $1.77 trillion.
The public offering generated approximately $75 billion. Theoretically, CEO Elon Musk achieved trillionaire status.
SpaceX, which intends to deploy AI computing facilities in orbit, attracted considerable investor enthusiasm before its trading launch.
American equities advanced during the session. The Dow climbed 0.7%, the S&P 500 increased 0.5%, and the Nasdaq rose 0.3%, partially supported by positive sentiment surrounding the Iranian diplomatic developments.
Brent crude oil declined more than 3% Friday as market participants incorporated the potential for Hormuz strait access restoration.
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