June S&P 500 E-Mini futures (ESM26) are down -0.38%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.65% this morning, pressured by a retreat in technology stocks, while investors await signs of progress toward a peace deal in the Middle East.
The price of WTI crude dropped over -1% on Tuesday after U.S. President Donald Trump said he would postpone a planned U.S. strike on Iran at the request of Gulf leaders to allow room for negotiations with Tehran on a potential deal to end the conflict between the two countries. The U.S. delayed the strikes “for a little while, hopefully maybe forever,” because “we’ve had very big discussions with Iran, and we’ll see what they amount to,” Trump said at the White House on Monday evening. Still, the 10-year T-note yield rose two basis points to 4.62% as oil prices stayed above $100 a barrel, curbing risk appetite.
