Finance

Global stock markets pushed higher and crude oil prices fell sharply on Monday as investors priced in growing hopes that the United States and Iran are nearing a deal to end their conflict — a pact that could include reopening the strategically vital Strait of Hormuz.

US President Donald Trump said negotiations were "proceeding nicely," comments that helped lift risk sentiment across international markets. At the same time, US Secretary of State Marco Rubio urged caution, warning against rushing an agreement and saying diplomacy should be given every chance. Market participants said a ceasefire and reopening of the strait would relieve pressure on energy markets that had been bid up by the closure and conflict.

The market reaction came against the backdrop of lighter US trading activity: US financial markets were closed on May 25, 2026, for the Memorial Day holiday, a factor that influenced the character and volume of moves reported globally.

The diplomatic headlines coincided with a string of other economic developments that underscore shifting dynamics in global finance. Tether, the largest stablecoin issuer, announced plans to launch a token pegged to the Georgian lari with the explicit support of the Georgian government. The company said the initiative aims to bolster cross‑border commerce, fintech development and digital payments in Georgia, though it did not fully disclose the details of the government partnership — a rare form of private‑public collaboration distinct from central bank digital currencies.

In Mexico, April trade data showed exports reached their highest level on record since 1980, helping the country post a trade surplus of $4.52 billion for the month. Non‑petroleum exports — driven by manufacturing — accounted for much of the surge, with more than 83% of those goods destined for the United States, highlighting Mexico's deep integration into North American supply chains.