December S&P 500 E-Mini futures (ESZ26) are down -0.10%, and December Nasdaq 100 E-Mini futures (NQZ26) are down -0.22% this morning, pointing to a lower open on Wall Street as bond yields rose after oil prices snapped a five-day losing streak.
Both WTI and Brent crude reversed earlier losses and edged higher on Wednesday as traders weighed progress in U.S.-Iran diplomatic efforts. U.S. and Iranian officials held indirect talks through mediators in New York on Tuesday on the sidelines of the United Nations General Assembly. U.S. President Donald Trump described the talks as “very productive,” hours after threatening to “annihilate” the Islamic Republic. President Trump added that more U.S.-Iran meetings are planned. Meanwhile, Saudi Arabia has reportedly begun testing its East-West pipeline for structural integrity and pressure, aiming to resume meaningful flows by Saturday.
