The S&P/TSX Composite Index rose 1% to close at a record 35,276 on Monday after the US and Iran announced a preliminary peace agreement aimed at ending the conflict. US President Donald Trump said the deal would halt hostilities and reopen the Strait of Hormuz. Oil prices fell, easing concerns that an energy-driven inflation spike could trigger a hawkish shift by global central banks. Bond yields also declined, reducing worries over higher borrowing costs. Financial stocks traded higher, with Brookfield gaining 1.2%. Meanwhile, higher gold prices fueled a rally in mining shares, with Agnico Eagle rising 5.6%, WPM advancing 6.8%, and Barrick adding 4.2%. In contrast, energy stocks tumbled on lower oil prices, with Canadian Natural down 2.7% and Suncor losing 3%. Investors are now focused on the Federal Reserve's policy meeting, which concludes on Wednesday, with markets widely expecting interest rates to remain unchanged.