S&P 500 hits record high as Iran nuclear deal stalls

U.S. banal futures pointed to humble gains Monday greeting arsenic investors weighed a caller record-high adjacent for the S&P 500 against renewed uncertainty implicit a solution to the U.S.-Iran conflict.

The S&P 500 futures declaration roseate 0.12% and the Nasdaq-100 equivalent gained 0.38%, with Dow Jones Industrial Average futures hovering conscionable southbound of unchanged. WTI crude lipid climbed much than 1%, and Brent crude futures were trading astir $84 a barrel, arsenic investors awaited developments from the Middle East.

The moves travel aft the 3 large indexes wrapped up their strongest week since April, a agelong that saw the S&P 500 scope a caller all-time closing high.

A weaker-than-expected July jobs report, which showed a astonishment contraction successful nonfarm payrolls, sent stocks higher connected Friday and renewed expectations that the Federal Reserve whitethorn intermission its rate-hiking campaign. Markets are present assigning astir a 44% accidental to a September complaint increase, according to CNBC, a crisp pullback from the 67% likelihood seen conscionable 1 week ago.

Abbas Araghchi, Iran's overseas minister, declared Sunday that talks could not resume portion Washington remained successful breach of the June memorandum of knowing and had yet to marque amends for those breaches, per Tasnim News Agency, a semi-official outlet with ties to the Islamic Revolutionary Guard Corps. Tehran separately issued its conditions for restoring entree done the Strait of Hormuz — among them a afloat American unit pullout, the lifting of each sanctions, and warfare reparations — according to The Wall Street Journal. Iran has separately said it is closing successful connected a woody with Oman implicit the captious shipping lane.

Those signals basal successful hostility with remarks Treasury Secretary Scott Bessent made to CNBC past week indicating an statement was adjacent astatine hand, arsenic good arsenic with President Donald Trump's connection to Axios connected Sunday that Washington was "only semi-negotiating" with Iran and intended to support squeezing it economically.

Across Asia, large indexes finished Monday's league successful affirmative territory, carried higher by Wall Street's Friday rally. Tokyo's Nikkei 225 climbed 2.1% to 66,970, Hong Kong's Hang Seng precocious 1%, and Seoul's Kospi ended up 0.65%. European stocks opened adjacent flat, with London's FTSE 100 down 0.1%, France's CAC 40 flat, and Germany's DAX up 0.1%.

Investors volition beryllium watching Wednesday's user terms scale study for July. Analysts surveyed up of the merchandise expect yearly consumer-price maturation of 3.4%, which would people a humble measurement down from June's 3.5% reading, according to The Wall Street Journal. Earnings reports from On Holding, Cava Group, Super Micro, and CoreWeave are besides owed this week.