U.S. stocks ended today’s trading session mixed. Fluctuating hopes for a deal to end the war in the Middle East have made investors nervous, Reuters reported. A monetary policy meeting of the U.S. Federal Reserve (Fed) is also scheduled for this week.
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Mixed Session on Wall Street
The broader S&P 500 index gained 0.12 percent today and closed at 7,173.91 points. The Dow Jones index, which includes the stocks of 30 leading industrial companies, lost 0.13 percent and closed at 49,167.79 points. The Nasdaq Composite technology index rose 0.2 percent to 24,887.10 points.
The U.S. dollar weakened slightly today. The dollar index, which tracks the dollar’s performance against a basket of six major global currencies, was down 0.06 percent at 98.474 points as of 10:00 p.m. CEST. The euro gained 0.03 percent against the dollar to $1.172.
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Iran Proposes Reopening Strait of Hormuz as Nuclear Deadlock Continues
Overnight, Axios reported, citing its sources, that Iran had presented the United States with a new proposal to open the Strait of Hormuz and end the war, stating that talks on Iran’s nuclear program would be postponed until a later stage of negotiations. Some analysts argue that a potential nuclear deal remains the main stumbling block, as any agreement that leaves Iran’s nuclear program unchanged could be politically damaging for U.S. President Donald Trump at home.
“Given the experience from about two weeks ago, when similar hopes (for the reopening of the Strait of Hormuz) had already emerged but were dashed again within 24 hours, market euphoria is likely to be much more subdued this time,” said Thu Lan Nguyen, head of foreign exchange markets at Commerzbank.
Source: Reuters
