Wall Street rises on hopes for peace with Iran, US tariffs boost Korean solar stocks

US stocks rose after Trump announced the cancellation of planned strikes against Iran, an announcement that pushed oil prices down on the first day of trading of the month. The drop in crude oil particularly supported travel-related stocks: cruise lines Norwegian and Carnival gained about 4% and nearly 2% respectively, while American Airlines and United Airlines rose about 5% each.

Not all stocks followed the same trend. Elon Musk’s space giant SpaceX has lost over $500 billion in market capitalization since its stock market debut on June 12, 2026, a decline that stands out against the generally positive mood of the rest of the market.

On a separate front, the White House imposed a 15% tariff, along with minimum prices and minimum import values, on polysilicon products and derivatives from China. The measure immediately benefited non-Chinese producers: South Korean solar company stocks rose at Friday’s opening, with Hanwha Solutions jumping 10% and OCI Holdings gaining 4%. US manufacturer First Solar also benefited from the measure, rising about 5%.

Stock	Change
Hanwha Solutions	+10%
First Solar	+5%
American Airlines / United Airlines	about +5%
OCI Holdings	+4%
Norwegian Cruise Line	about +4%
Carnival	nearly +2%

The two movements — Wall Street’s rally linked to the de-escalation with Iran and the surge in Korean solar stocks linked to tariff policy — stem from different decisions by the US administration, one diplomatic and the other commercial, but share the same effect: reshaping within a few hours the valuations of entire sectors, from transportation to solar energy. It remains to be seen whether the polysilicon tariff, designed to favor non-Chinese producers, will translate into a lasting advantage or a temporary rise linked to the announcement.