June S&P 500 E-Mini futures (ESM26) are down -0.62%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.64% this morning, pointing to a lower open on Wall Street as oil prices jumped back above $100 a barrel after President Trump ordered a blockade of the Strait of Hormuz following the weekend’s collapse of U.S.-Iran peace talks.
The U.S. and Iran ended direct talks held over the weekend in Pakistan without a deal. Vice President JD Vance, who led the American delegation, said he’s returning home without a deal after Iran refused to agree not to pursue a nuclear weapon. “We’ve made very clear what our red lines are, what things we’re willing to accommodate them on, and what things we’re not willing to accommodate them on,” Vance told reporters early Sunday. “And we’ve made that as clear as we possibly could, and they have chosen not to accept our terms.”
