U.S equities closed the week higher, with the Dow Jones Industrial Average rising 2.13% to a fresh all-time high and the S&P 500 gaining 0.88%, extending its winning streak to eight consecutive weeks. The Nasdaq Composite advanced a more modest 0.45%. In fixed income, Treasury yields retreated after President Donald Trump said the U.S. was in the “final stages” of negotiations with Iran, fueling hopes that the conflict may be approaching a turning point. Across the Atlantic, the pan-European STOXX Europe 600 rose 3.00%, supported by growing optimism around a potential de-escalation in the Middle East. Germany’s DAX surged 3.92%, France’s CAC 40 gained 2.05%, Italy’s FTSE MIB added 0.80%, and the UK’s FTSE 100 climbed 2.66%. In Asia, Japan’s Nikkei 225 rebounded strongly, rising 3.14% on hopes that U.S.-Iran negotiations could continue to progress. By contrast, Hong Kong’s Hang Seng Index fell 1.37% after disappointing April activity data reignited concerns around China’s growth outlook. Looking ahead, in a holiday-shortened week in the U.S, investors will closely watch April’s PCE inflation data alongside key economic releases from the euro area’s four largest economies, all against a backdrop of renewed scrutiny on long-term bond yields, which recently climbed to their highest levels in more than two decades amid persistent inflation concerns. At the same time, markets continue to receive mixed signals over whether the U.S intends to resume military action against Iran. As month-end approaches after a powerful rally in risk assets, will profit-taking finally begin to gain the upper hand?