Stocks extend rally on Gulf breakthrough hopes, oil near two-month lows

Asian stocks joined a global rally on Friday on hopes a Middle East peace deal may finally ​materialise, while the dollar and bond yields dropped and oil prices fell to two-month lows, tempering inflation fears. All eyes are on the ‌hotly-awaited market debut of Elon Musk’s SpaceX, which has made history with the biggest-ever initial public offering. The IPO raised a record $75 billion, valuing the rocket and spacecraft manufacturer at $1.77 trillion and making Musk the world’s first trillionaire. US President Donald Trump said on Thursday that a peace deal could be signed as soon as this weekend, hours after threatening more strikes on ​Iran. He said negotiations with Tehran had advanced to the highest levels of Iran’s leadership and had been approved by a broad coalition ​of regional powers.