Hormuz Deal Hopes Lift Stocks Despite Ongoing Global Tensions

Stock indices in the US are rising modestly as investors await a potential deal to reopen the Strait of Hormuz. The S&P 500 Index is up 0.10%, while the Dow Jones Industrial Average and Nasdaq 100 Index are up 0.05% and 0.15%, respectively.

The September E-mini S&P futures and September E-mini Nasdaq futures are also increasing, by 0.12% and 0.20%, respectively. The strength in chipmakers and AI-infrastructure stocks is supporting the overall market.

Crude oil prices initially jumped to a one-week high after President Trump hardened his stance toward Iran, but they have since given up some of that gain. This has weakened inflation expectations and boosted Treasury notes.