Finance

Executive summary

Global equity markets experienced a risk-on tone, with U.S. stocks rising significantly to catch up with gains in other world markets, following comments from U.S. President Donald Trump indicating that negotiations with Iran were 'proceeding nicely' towards an agreement. This optimism, despite U.S. military self-defense strikes in southern Iran, drove up the S&P 500, Dow Jones Industrial Average, and Nasdaq composite, all nearing or setting new all-time highs. Oil prices showed mixed reactions; Brent crude rose, recovering some of its previous plunge, while U.S. crude declined. The ongoing conflict and its impact on the Strait of Hormuz continue to influence energy markets and global inflation, though hopes for a resolution buoyed stocks of companies with large fuel costs.