Global Markets Cautiously Optimistic As Diplomacy Gets Second Chance In Gulf War
· Free Press Journal
Global equity markets on Monday remained stable or posted minor gains, reflecting the optimistic but cautious stance of investors amid the blockade of the Strait of Hormuz, even as diplomatic efforts continue.
Dow Futures and S&P Futures were trading in negligibly weaker territories, with declines of 0.05 percent and 0.01 percent, respectively, according to Bloomberg TV, as of 2:00 ET on April 14.
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This was in line with the stable performance of the Dow and S&P 500. While the former ended just 0.63 percent higher, or 301 points, the latter rose over 1 percent, or 69 points.
On the other hand, Asian markets were trading in green territory amid reports of the United States and Iran mulling another round of talks in Pakistan’s Islamabad after the first round of discussions ended without any breakthrough.
Oil Prices Ease On Hopes Of Peace Talks Resumption Between US And IranJapan’s Nikkei was up by 2.32 percent, or 1,312 points, while South Korea’s Kospi jumped over 3 percent. Hong Kong’s Hang Seng, however, showed a milder rise of 104 points, or about 0.4 percent.
On the domestic front, India’s Sensex and Nifty remained closed on account of Ambedkar Jayanti. However, domestic indices had closed in the red on Monday.
The range-bound movement across the markets on Tuesday came on the back of reports of the warring sides in the West Asian war considering another round of talks to give diplomacy a second chance.
Earlier, peace talks between the United States and Iran had failed in Pakistan’s Islamabad, with both sides blaming each other for raising unreasonable demands in a show of distrust.
This led to a blockade of the Strait of Hormuz by the US in retaliation. However, Trump has said that he was in contact with Iranian officials and they “want to work a deal”.
Vice President JD Vance also said the US would be happy to treat heavily sanctioned Iran “like a normal country” if it does not pursue nuclear weapons.
Also, Israel and Lebanon are going to hold talks in Washington today, a first in decades as the two countries do not have diplomatic relations with each other.