U.S. stocks extended their rally Monday following a Wall Street Journal report that suggested Tehran was looking to resume talks with the White House over its nuclear program in order to de-escalate its military conflict with Israel.

The latest round of U.S.-Iran nuclear talks scheduled for Sunday in Muscat will not take place, Omani Foreign Minister Badr Albusaidi said on X on Saturday.

Israel’s ongoing “widespread strikes” in Tehran and elsewhere have left Iran’s surviving leadership with the difficult decision of whether to plunge deeper into conflict with Israel’s more powerful f...