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Geopolitics · Iran · Oil Prices · Stock Market
U.S. stock futures gained, and oil prices fell after the Trump administration initiated negotiations for a potential 45-day cease-fire with Iran, aiming for a permanent end to the war despite slim breakthrough chances.
This diplomatic effort follows President Trump's weekend threats to bomb Iranian civilian infrastructure if a deal to reopen the Strait of Hormuz was not reached by Tuesday. Trump has scheduled a press conference for 1 p.m.
ET today. Brent crude futures, the international benchmark, slid almost 2% back below $110 a barrel.
Contracts tied to the S&P 500, Dow industrials, and Nasdaq 100 all rose, with the Nasdaq 100 leading the pack. In Asia, Japan’s Nikkei and South Korea’s Kospi also advanced, while markets in Europe and Hong Kong were closed.
This market optimism also followed unexpectedly strong U.S. jobs data released last Friday. In recent trading, the dollar fell against a basket of currencies, gold rose almost 1%, and Bitcoin strengthened to just under $70,000.
