Stocks Pause With Focus on Weekend US-Iran Talks – Europe Market Wrap
Following a seven-day rise, US markets wavered as investors watched talks between the US and Iran for signs that a fragile truce could last. Oil was poised for its steepest weekly loss in nine months.
Equity futures were steady, with the underlying S&P 500 index poised for its largest weekly gain in over a year. Europe’s Stoxx 600 index rose 0.8% after Ukraine’s main negotiator with Russia voiced hope about peace talks. Brent crude remained unchanged at around $96 per barrel.
Traders are waiting to see if Tuesday’s two-week ceasefire agreement, which sent markets soaring and oil prices plummeting, can be translated into long-term peace. Trump said he was “optimistic,” despite threatening Tehran with tolls in the Strait of Hormuz, where traffic hasn’t improved significantly since the truce began.
US Treasuries were on track to halt a four-day winning streak as investors waited for March US inflation data, which is due later Friday, to see the impact of rising oil prices caused by the Iran war. The Dollar remained stable, heading for its steepest drop in a week since January.
Israel has continued to bomb communities in south Lebanon, where its parallel campaign against Tehran-backed Hezbollah threatens to derail discussions.
