September S&P 500 E-Mini futures (ESU26) are down -0.27% this morning, starting the third quarter on a cautious note as investors await remarks from Federal Reserve Chairman Kevin Warsh and a new round of U.S. economic data at a time when bets on Fed rate hikes are ramping up.
The price of WTI crude fell over -1% on Wednesday after Bloomberg reported that U.S. negotiators Steve Witkoff and Jared Kushner held constructive talks in Qatar and that progress was being made in technical discussions with Iran. AFP reported that talks between U.S. and Iranian officials through mediators are continuing on Wednesday, though Witkoff and Kushner are not participating. Oil prices initially rose after Iran and Qatar said Tehran would meet with mediators rather than top U.S. envoys in Doha. Meanwhile, The Wall Street Journal reported on Tuesday that U.S. President Donald Trump considered returning to all-out war with Iran but opted to continue diplomatic talks for now.
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