JPMorgan Traders Turn Bullish on US Stocks Citing Peace Deal

JPMorgan Chase & Co.’s trading desk has turned bullish on stocks following optimism that peace in the Middle East is near.

“A potential US–Iran agreement could catalyze a broad risk-on impulse across equities, supported by strong fundamentals,” Andrew Tyler, the bank’s head of global market intelligence, wrote in a Monday note.

The view comes a week after the bank cut its near-term view on stocks to “tactically cautious,” citing the rout in both the tech-heavy Nasdaq 100 Index and broader S&P 500 Index, which was triggered by an unwinding of the artificial-intelligence trade. Since that ...