Oil prices are just starting to gush higher. Last trading at $64.85, oil could rally back to $70 with growing optimism over US-China trade talks. In fact, if a deal can be reached, there’s hope it will boost the global economic outlook and fuel demand.

U.S. stocks closed higher on Monday, as oil prices retreated after the Israel-Iran attacks left crude production and exports unaffected, easing investor concerns about the potential for higher energy prices to stoke inflation.

Quantum Computing and other growth stocks are rallying today on hopes that the conflict between Israel and Iran could de-escalate. Oil prices have moved lower today, which is a good sign on the inflation front.

That sent the yield on the 10-year Treasury up to 4.43% from 4.36% late Thursday. Higher yields can tug down on prices for stocks and other investments, while making it more expensive for U.S. companies and households to borrow money.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value,

Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.