US Stocks Mixed Amid Quad-Witching Friday; Iran Conveys Conditions for War End
US stocks were mixed on quad-witching Friday, with the Nasdaq outperforming and the S&P 500 flat. The Dow and Russell closed lower. This was despite initial pressure from reports of further regional diplomatic efforts, which saw crude prices choppy initially before paring back to settle in the red.
Iranian officials have conveyed their conditions for re-engaging in negotiations to end the war with the US, including ending the war on all fronts and the naval blockade, as well as unfreezing Iranian funds. They also want an end to the war between Saudi Arabia and Yemeni Houthis.
The US and China are reportedly discussing cutting tariffs on US LNG ahead of Chinese President Xi's visit, with potential USD 30bln reciprocal tariff cuts. The two nations' officials started talks in New York to prepare for the Trump-Xi summit.