The Latest Breaking News from Iran

The fast-changing war between Israel and Iran, which the U.S. recently inserted itself in by targeting Iran’s nuclear sites, has caused a mix of emotions among many in the Iranian diaspora in America

“Financial markets have priced in an Iran-Israel ceasefire holding,” UBS’s Paul Donovan told clients this morning.

China currently buys around 90% of Iran’s oil exports.

Mike Gallagher, Head of Defense at Palantir Technologies Inc. (NYSE:PLTR), said Iran’s nuclear program has been “set back significantly” following weekend U.S. military strikes on three Iranian nuclear facilities, though intelligence assessments remain conflicted over the operation’s long-term impact.

U.S. futures were flat on Wednesday after a positive day of trading on Tuesday. Futures of major benchmark indices were slightly positive.

IN FULL

President Donald Trump insisted Wednesday that US strikes led to the "total obliteration" of Iran's nuclear capabilities and set the country's atomic programme back "decades", while Israel said it was still early to fully assess the damage.

September S&P 500 E-Mini futures (ESU25) are trending up +0.16% this morning, extending yesterday’s gains, while investors await further testimony from Federal Reserve Chair Jerome Powell for clues on the rate outlook.

Once again, reality disagrees with Trump.