Equity markets experienced a significant upward move as changing geopolitical news sparked a broad rally across sectors. The S&P 500 pushed higher by more than 1.5%, while the Nasdaq-100 advanced over 2%. This market move came despite a hot Producer Price Index report showing a 1.1% increase in May, which brought the 12-month wholesale inflation rate to 6.5%, its highest level since November 2022. Concurrently, weekly jobless claims rose to 229,000. In derivatives markets, equity option volume remained exceptionally robust, driven by heavy short-term contract volume. Meanwhile, Bitcoin followed the broader positive market sentiment, climbing back toward $64,000 on relatively low volume, which could suggest a lack of near-term conviction.