Wall Street rides high into June on hopes that the war will soon come to an end. Here's what's ahead

The stock market continues to bet on some sort of a resolution to the war with Iran, but there are no shortages of other risks heading into a new month. Stocks are on pace to end the month of May at all-time highs, continuing their rebound off the March lows on growing confidence that the Strait of Hormuz will reopen soon. This week gave some hint into what a response to a resolution would be like, as bond yields declined, oil prices retreated and the major stock averages rallied on hopes the Trump administration is nearing a peace deal. President Trump's nuclear demands remain a key sticking point for any agreement. On Friday, the president said that Iran "must agree that they will never have a Nuclear Weapon," and said he was convening in the Situation Room to deliberate a "final determination." But the unpopularity of the U.S.-Iran war and higher gasoline prices at the pump, especially in a critical midterm election year, has investors confident the conflict will soon wrap up. "The most important thing is to get the Strait of Hormuz open, from a world economy point of view, and we kick the can down the road on nuclear," said Rhys Williams, investment chief at Wayve Capital Management. "That's the deal that I think is out there." AI driving force If bond yields continue to come off their highs and oil pulls back, there's little else besides the war giving stock investors pause. …