Markets tentatively optimistic price action, with oil prices falling steadily throughout the session on hopes of some kind of deal from the ongoing US-Iran talks.
Iranian Foreign Minister Araghchi said he expected a formal answer today to Tehran’s proposal to reopen the Strait of Hormuz. Diplomatic sources to Al Hadath said that mediators are working on a US-Iranian understanding that paves the way for reviving the Islamabad MoU.
However, Washington and Tehran feel “frustration over the results of the current negotiations”.
Dow futures (INDU) -0.12%,
S&P 500 futures (SPX) +0.04%,
Nasdaq futures (US100:IND) +0.15%.
Crude Oil Lower
WTI 90.822 1.778 -1.92%
Brent 103.640 1.64 -1.56%
Gasoline 3.2532 0.0845 -2.53%
Heating Oil 4.6453 0.11 -2.31%
Natural gas 3.1055 0.0005 -0.02%
Gold 4154.70 39.72 0.97%
Silver 60.962 0.335 0.55%
Copper 6.5655 0.004 -0.06% -2.75%
JPY leads, AUD lags on the day
Bitcoin up 0.63% to $84,028
The economic calendar includes the Case-Shiller Home Price Index, FHFA House Price Index, Consumer Confidence, and JOLTS.
2-year Treasury yield rose 0.6 basis points to 4.94%,
10-year Treasury yield fell 0.5 basis point to 5.24%,
30-year Treasury yield rose 0.3 basis point to 5.56%.
Among S&P 500 stocks
Zebra Technologies (ZBRA) +3.71%, Johnson Controls (JCI) +1.95%, AMETEK (AME) +1.92%, Gen Digital (GEN) +1.63%, and FedEx Freight (FDXF) +1.50%.
Among S&P 500 stocks
Fair Isaac (FICO) -9.82%, Garmin (GRMN) -4.44%, Williams-Sonoma (WSM) -2.00%, Invesco (IVZ) -1.60%, and C.H. Robinson Worldwide (CHRW) -1.41%.