Show notes
- US equity markets were mixed overnight following a muted session as oil prices and bond yields continued to climb. The Dow fell -162 points of -0.31%.
- Stocks recovered from their session lows following reports that US and Iranian negotiators in New York are exploring a potential agreement to de-escalate tensions in the Middle East. Under the proposed plan, Iran would reopen the Strait of Hormuz in exchange for the US gradually lifting economic sanctions on Tehran.
- Investors are awaiting news from the meeting between President Trump and Chinese leader Xi Jinping in Washington ahead of a state dinner at which several corporate leaders are expected to attend. Earlier, Treasury Secretary Scott Bessent said that the U.S. and China will extend a tariff truce by two months, until January.