Stocks trimmed gains and crude oil advanced after US strikes on sites in Iran curbed optimism over a potential deal to end the war. S&P 500 futures rose 0.6%, though gains were more modest than Monday, when US markets were shut. Asian shares were up 0.5%, off session highs, as American forces hit missile launch sites in Iran and boats trying to place mines, the US Central Command said. Authorities described the attacks as defensive in nature. European shares were also set to drop. Weighing on risk appetite was a rebound in oil prices after the strikes clouded the outlook for an interim deal to reopen the vital Strait of Hormuz. Brent rose almost 2% to $98 a barrel, bouncing back from Monday’s slump of more than 7%, when trading volumes were thin with holidays in London and New York. The dollar strengthened against all of its Group-of-10 peers, while gold erased earlier gains to fall 0.6% to about $4,545 an ounce. Treasuries rallied across the curve in a catch-up move as cash trading resumed after a break. Traders remained cautiously optimistic as the back-and-forth over a potential Middle East deal continued to drive swings across markets, with global stocks hitting a record Monday on bets the worst of the energy shock may be over. Elevated oil prices and inflation concerns have meanwhile fueled speculation the Federal Reserve may keep interest rates higher for longer. Earlier, US President Donald Trump said that negotiations with Iran over an interim deal to extend their ceasefire and reopen the strait were “proceeding nicely.” Pakistan’s military chief, Asim Munir, the main interlocutor between the warring sides, told China an agreement was “close to being reached.” The ongoing negotiations with Iran will take a few days, US Secretary of State Marco Rubio said. Key sticking points remain unresolved, however, including the future of Iran’s nuclear program. Its Tasnim news agency reported the draft agreement could still collapse because of US objections to several provisions, including Tehran’s demand that frozen assets be released. In other geopolitical news, Russian Foreign Minister Sergei Lavrov urged Rubio to evacuate American citizens and diplomats from Kyiv ahead of what Moscow said would be an escalation of strikes on the Ukrainian capital, according to a statement from Russia’s Foreign Ministry on Monday. Meanwhile, shares in Hong Kong fluctuated as they returned from their holiday. That’s after Chinese investors rushed to find alternative ways to buy and sell overseas equities after Beijing launched its most forceful crackdown on illicit cross-border stock trading to stem capital outflows.
Nikkei -0.15% Hang Seng +0.27% CSI +0.14% Shanghai -0.57% Shenzen -0.92%
Eur$ 1.1630 CNH 6.7883 CNY 6.7881 JPY 159 GBP 1.3479 CHF 0.7835 RUB 71.6169 TRY 45.9031 WTI$ 92.03 -4.73% Gold 4,534 -0.85% BTC 76,866 -0.45% ETH 2,101.50 -0.62%
S&P +0.60% Nasdaq +0.81% EuroStoxx -0.32% FTSE +0.18% Dax -0.39% SMI +0.88%
Macro :
- Israel Will Intensify Lebanon Strikes Amid US-Iran Deal Talks
- Ukraine Rejects Easing Pressure on Belarus Potash: Sybiha (NTR US, MOS US, SDF GY, BHP LN, YARA NO)
Keep an eye on :
Keep an eye on :
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