Middle East Conflict Stalls Global Markets, Bonds Rise

U.S. Treasurys and the dollar stabilized, while stock futures showed little movement. Brent crude oil prices held below $100, with Brent at $98.57 a barrel, down 0.8%, and WTI at $93.61 a barrel, down 1.1%, despite President Trump's expectation of an end to the Iran conflict and Tehran's agreement to hand over highly enriched uranium.

However, energy supply disruptions persisted due to the American blockade of Iranian ports, keeping inflation uncertainty elevated, according to Saxo Bank analysts. Software stocks rallied in Europe, extending gains after the Nasdaq hit a record high.

Netflix shares fell nearly 10% premarket following negative second-quarter guidance and co-founder Reed Hastings' planned departure. Asian markets were mostly lower, with Japan's Nikkei down 1.75%, South Korea's Kospi down 0.5%, and Hong Kong's Hang Seng down 1.1%.

European markets were mixed, with the Stoxx 600 trading flat. U.S. Treasury yields edged higher, with the 10-year yield rising 1 basis point to 4.318%, and Eurozone government bond yields also increased.

Gold futures were flat at $4,807.30 a troy ounce, on track for a weekly gain, while Bitcoin fell 0.5% to $74,851.