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S. and Iran continued to halt their attacks on each other, providing space for negotiations that could reopen the Strait of Hormuz. Meanwhile, Wall Street is also looking ahead to a busy week of tech earnings and the Federal Reserve’s policy meeting. 65%. 28%. 1%, as chip heavyweights SK Hynix and Samsung reached new deals. S. 70. 15% to $4,118 per ounce. President Donald Trump and Iranian officials have said both sides are actively engaged in diplomacy after nearly two weeks of daily bombardment. Separately, Iran and Oman are also in talks, with a potential deal coming together that centers around having Iran run vessel transit through the Strait of Hormuz with fewer restrictions on ships.

S. and Iran’s neighbors are unlikely to accept any arrangement that recognizes Tehran’s control over the narrow waterway. But Trump is also running out of options to ease strains in the oil market, which is headed for a crisis as inventories hit critically low levels. S. has surged more troops and aircraft the Mideast in case Trump wants to resume major combat operations. But 40 days of all-out war and 13 days of limited strikes failed to reopen the Strait of Hormuz. S. Central Command chief Adm. Brad Cooper recommended stopping the recent bombing campaign because it has reached the limit of its effectiveness.

The New York Times also reported that Gen. Dan Caine, chairman of the Joint Chiefs of Staff, privately warned that restarting major combat operations was doable but that Iran’s retaliation would force Central Command to deplete its stockpile of interceptors to dangerous lows. S. troops in Jordan, crossing Trump’s red line for resuming full-blown war. ” Then he ordered the pause on Friday. S. -Iran talks. Any progress in reopening the Strait of Hormuz should further lower oil prices just as the Federal Reserve has sounded more hawkish on fighting inflation.

Central bankers meet this coming week, and Wall Street expects another “family feud” as policymakers debate whether to hike rates or keep them steady. The rate decision will also feed into the AI trade, which has slumped lately as investors revolt against massive capital expenditures . More updates on that front are expected when Microsoft and Meta report earnings on Wednesday, followed by Apple and Amazon on Thursday. Google parent Alphabet beat earnings estimates last week, but revealed negative cash flow on heavy spending. Still, demand for AI capacity remains robust.