Global stock markets moved higher on Tuesday, with Wall Street also set to open stronger, while oil prices remained mostly unchanged amid ongoing uncertainty over talks between the United States and Iran.
Futures for the S&P 500 rose 0.4% before trading began, while Dow Jones futures gained 0.6%. Nasdaq futures also edged up 0.4%.
In the oil market, US benchmark crude slipped 14 cents to $87.28 per barrel. Brent crude, the international standard, fell 47 cents to $95.01 per barrel.
The conflict involving Iran has disrupted oil shipments through the Strait of Hormuz, a key route that carries about one-fifth of the world’s oil supply daily, pushing energy prices higher in recent weeks.
US President Donald Trump has called on Iran to allow safe passage through the strait and has imposed a blockade on Iranian ports. However, Iran has taken a firm stance, refusing to negotiate under pressure.
Iran’s chief negotiator and parliamentary speaker, Mohammed Bagher Qalibaf, said in a social media post that Tehran would not engage in talks “under the shadow of threats.”
Despite this, Trump said he still plans to send a delegation led by Vice President JD Vance to Islamabad for discussions. However, Iran has indicated it will not participate unless the US softens its position. Trump also signalled that extending the current ceasefire, which expires Wednesday, is “highly unlikely.”
Analysts say the situation remains fragile, with both sides facing pressure to reach an agreement before the truce ends.
Even so, oil prices remain below earlier highs, when Brent crude had surged to $119 per barrel at the peak of tensions. The S&P 500 is also still trading above its pre-conflict level.
In corporate news, Apple shares were little changed after the company announced that CEO Tim Cook will step down on Sept. 1, handing over the role to John Ternus. Cook will continue as executive chairman after leading the company for 15 years.
Shares of UnitedHealth Group jumped more than 7% in premarket trading after the company reported better-than-expected first-quarter earnings and raised its full-year profit forecast.
Investors are also watching developments in Washington, where Kevin Warsh, Trump’s nominee for Federal Reserve chair, is set to appear before the Senate Banking Committee. He is expected to face tough questions, particularly from Democrats over his financial disclosures.
In Europe, Germany’s DAX rose 0.6%, while France’s CAC 40 added 0.2%. Britain’s FTSE 100 remained unchanged.
Asian markets also closed higher. Japan’s Nikkei 225 climbed 0.9%, supported by gains in technology stocks. South Korea’s Kospi surged 2.7%, while Taiwan’s Taiex rose 1.8%.
Hong Kong’s Hang Seng index gained 0.5% and Shanghai’s Composite index edged up 0.1%. However, Australia’s S&P/ASX 200 slipped slightly by less than 0.1%.