Dow Jones Top Markets Headlines at 7 PM ET: Trump Confirms Opening of Hormuz and Says Iran Deal Is Close. Oil Settles Below $90. | Stocks ...
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Global markets are reacting to the Iran conflict and potential economic implications, with the S&P 500 and Nasdaq reaching record highs. The Fed and other central banks are closely watching inflation and interest rates amid the turmoil.
The S&P 500 and Nasdaq have reached record highs following a three-week rally. Fed Governor Christopher Waller warned that a prolonged Iran conflict could lead to higher prices and inflation, potentially blocking rate cuts. The Bank of Canada is tracking longer-term inflation expectations to guide interest rate decisions. The EU trade surplus has narrowed due to declining exports, and the US is reviewing its trade deal with Canada and Mexico. Importers can now file claims for tariffs invalidated by the Supreme Court. The Justice Department is nearing an antitrust case against major egg producers, and chocolate makers are reducing their use of cocoa due to price volatility.
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