Stocks Edge Up as Trump Cites US Talks With Iran: Markets Wrap
(Bloomberg) — Hopes for diplomatic efforts to end the war in Iran and restore energy flows through the Strait of Hormuz sent oil prices lower, leaving stocks near their all-time highs.
Most companies in the S&P 500 rose as President Donald Trump said US officials had a “very good” meeting with Iranian representatives. A closely watched gauge of chipmakers climbed for a sixth straight day, poised for the longest winning streak since April. The advance in tech firms offset a selloff in bank shares. Brent crude dropped to around $98. Bonds stabilized.
“It was a meeting that lasted for three hours,” Trump told reporters Tuesday on the sidelines of the United Nations General Assembly in New York. He said it was “very productive” and that “they have another one scheduled in the very near future.”
Trump said earlier he believed the US will make a deal with Iran after the election, adding that more oil is flowing than at any point since the war started while noting prices will plummet when the conflict is over.
“Today focus will stay on geopolitics and if there’s any confirmation of progress towards a ceasefire between the US and Iran, look for oil and yields to fall further and for stocks to rally,” said Tom Essaye at The Sevens Report.
Meantime, when Chinese President Xi Jinping touches down in Washington on Sept. 23, it will mark three years since he last visited the US.
His much-anticipated one-day summit with Trump the following day will offer the leaders of the world’s two largest economies a chance to improve personal ties and look for common ground on contentious topics including trade, artificial intelligence, the Iran war and the future of Taiwan.
Traders also kept a close eye on the latest remarks from central bank officials.
Federal Reserve Bank of Richmond President Tom Barkin warned it could take time for inflationary shocks to wane and there is a risk elevated pressures could become entrenched. His Boston counterpart Susan Collins said she supported last week’s decision to raise rates, which she said would help bring inflation back to the 2% target.
Corporate Highlights:
Anthropic PBC is releasing a new artificial-intelligence model that’s meant to field a wide range of business tasks at a lower cost, part of the startup’s bid to keep ahead of rivals while it prepares for a highly anticipated Wall Street debut. Apple Inc. is developing a screenless health and fitness tracker similar to Whoop Inc.’s wrist-worn device, part of an effort to rethink its smartwatch lineup and add new wearable technologies. Bankers are reaching out to investors ahead of the sale of $49 billion in financing backing Paramount Skydance Corp.’s takeover of Warner Bros. Discovery Inc., after the company settled a series of lawsuits that had held up the $110 billion acquisition. Goldman Sachs Group Inc. has emerged as the lead bidder to acquire a credit manager that oversees $37 billion as the bank revs up its dealmaking pace. Viking Therapeutics Inc.’s dual-action obesity shot helped patients lose weight and keep it off, even after they cut their dosing schedule in a small, exploratory study. What Bloomberg strategists say…
“Leadership has rotated decisively back toward semiconductors and hyperscalers, giving the S&P 500 and Nasdaq 100 enough to keep pushing higher without signs of an outright upside chase, but a more convincing rally requires broader participation.”
—Michael Ball, Macro Strategist, Markets Live. For the full analysis, click here.
Some of the main moves in markets:
Stocks
The S&P 500 was little changed as of 2:22 p.m. New York time The Nasdaq 100 rose 0.7% The Dow Jones Industrial Average fell 0.3% The MSCI World Index was little changed Currencies
The Bloomberg Dollar Spot Index rose 0.1% The euro fell 0.2% to $1.1442 The British pound fell 0.2% to $1.3334 The Japanese yen was little changed at 157.41 per dollar Cryptocurrencies
Bitcoin fell 0.5% to $86,554.48 Ether fell 1.1% to $2,753.75 Bonds
The yield on 10-year Treasuries was little changed at 4.95% Germany’s 10-year yield was little changed at 3.46% Britain’s 10-year yield advanced three basis points to 5.24% Commodities
West Texas Intermediate crude fell 0.9% to $94.93 a barrel Spot gold rose 0.4% to $4,358.83 an ounce ©2026 Bloomberg L.P.
