Good Wednesday morning. Welcome to Squawk on the Street. I'm Sarah Eisen with Carl Kintania and David Faber. We are live, as always, from post nine of the New York Stock Exchange. Stocks jumping to record highs here. Oil sinking after Naxias report said an Iran deal could be coming soon. We'll talk to Richard Haas from the Council on Foreign Relations about what could come next in the Middle East.

And AMD boosting the tech complex on the back of blowout results.

As the NASDAX sits at these record levels,

a top portfolio manager weighs in on how long this tech rally can last.

And Disney shares are also higher following the first earnings report

under the new CEO, Josh

DeMorrow. And one analyst thinks there's a lot more upside on this one ahead. But guys, we have to

start on the moves off of the de-escalation hopes from Iran. It is far and wide. I think you have to

start with oil and gas prices, which you can see in the 24-hour chart

had a steep plunge on this idea that there is a formal memo out from the United States

for Iran to consider toward ending the war and opening, importantly, the Strait of Hormuz.

Big drop in oil prices.

We're obviously off the lows, but we're still looking at six, six and a half percent declines. That's relief. And you see that in treasury yields as well,

which has been another key place that investors are focused on high yields with high oil prices.

That goes the other way today as well. Lower yields, some relief there. I mean, it is far and

wide. You can just look at the currency

market as well, where the dollar shekel saw 1% move there. That's the Israeli currency

on the back of this, strong shekel on hopes of ending the war. So just a few places where

you can see some sharp market moves, guys. We also see it in the fertilizer stocks, which are selling off.

Remember, high fertilizer prices because they get imported from that part of the region.

They've been stuck in the Strait of Pormuz.

That's boosted prices and stocks here that trade in the U.S.,

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