Japan’s Nippon Steel Is Set to Complete Purchase of U.S. Steel.
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U.S. stocks surged to session highs and oil prices dropped after The Wall Street Journal reported that Iran is urgently signaling that it wants to end hostilities with Israel. The Dow Jones Industrial Average gained 317 points to close at 42,515. The S&P 500 was up 56 points. And the Nasdaq advanced 294 points.

President Trump joined the leaders of G7 countries plus others at a summit in Canada. Nations including Japan, Canada, and Mexico hope FaceTime with Trump will help them persuade the president to lower at least some of his tariffs. Among individual companies, Japan's Nippon Steel is set to complete its purchase of United States Steel after reaching a national security agreement with the White House. Shares of the U.S. company closed up 5.1%.

Creditors have approved a debt deal allowing Warner Bros. Discovery to move forward with the plan to separate its HBO Max streaming service, movie studio, and TV production business from its cable networks. Shares rose 7.3%.

activist investor Barrington Capital Group has built a stake in Victoria's Secret, with plans to push it to refresh its board and refocus on its core bra business. This adds to recent pressure that the lingerie company is facing after a recent website security issue. Shares ended the day up 2.4%.

And Reddit unveiled AI-driven advertising tools to help brands track its users' conversations, causing shares to jump 6.8%. We'll have a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts. Viking, committed to exploring the world in comfort.

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