Iran vowed retaliation after Israel carried out a strike on Hezbollah infrastructure in Beirut, before President Donald Trump announced an agreement with Tehran had been reached.

US markets opened sharply higher after news of the agreement, with an official signing ceremony expected on Friday in Switzerland.

The U.S. and Iran are expected to meet for a signing ceremony on Friday, June 19, in Switzerland, Pakistan's prime minister said.

Tehran is preparing for the July 9 burial of Supreme Leader Ali Khamenei, more than four months after his death, as authorities mobilise the Basij militia and mount a massive security operation ahead of what is expected to be a “historic” turnout.

President Donald Trump on Friday said Iranian leaders have not yet reached a deal with the U.S. to end the ongoing war because they’re “strong” and “proud,” but ultimately, he added, “they’ve got no choice” except to reach an agreement.

President Trump said earlier Thursday he called off new military strikes on Iran, hours after threatening to escalate the war.

Iran-US war latest: Trump threatens to hit civilian targets in Iran as US resumes Strait of Hormuz blockade - Iran launches new bout of airstrikes targeting US bases in Bahrain and Kuwait

President Donald Trump says he believes the ceasefire with Iran is over. He says he’s not sure he wants a deal anymore and says the U.S. should “finish the job.”