US stocks surged to their best session in a decade on Tuesday, driven by optimism that the Iran conflict could conclude within weeks. The S&P 500 climbed 2.9%, its largest single-day gain since May, while the Nasdaq Composite jumped 3.8%, its biggest jump since May 12. This rally followed President Trump's assertion that the 'hard part' in Iran was complete. Iran's president also signaled openness to ending the conflict if Tehran receives guarantees against US-Israeli aggression. Oil prices surged 63.3% in March, with Brent crude hitting $118.35, though the US marker WTI rose less sharply. Tech stocks, led by the Magnificent Seven, dominated gains as investors shifted portfolios at quarter-end.

Despite Tuesday's bounce, the S&P 500 remains down 5% for March. The market reaction highlights the significant impact potential war resolution has on investor sentiment and commodity prices.