Wall Street Hits New Record, Oil Rises as Iran Talks Stall
The S&P 500 and Nasdaq closed Monday (April 27th) at new records, but gains were limited as the deadlock in Iran negotiations and the latest escalation in the Strait of Hormuz further boosted oil prices. The S&P 500 rose 0.12% to 7,173.91, and the Nasdaq added 0.20% to 24,887.10, while the Dow fell 0.13% to 49,167.79.
Sentiment was dampened by signs that diplomatic progress had not yet been made. President Donald Trump canceled plans to send US envoys Steve Witkoff and Jared Kushner to Pakistan, saying talks could be held by phone and deeming the travel time too wasteful. From Tehran, Iranian Foreign Ministry spokesman Esmaeil Baqaei said no meeting between Iran and the US was planned.
On the energy front, risk premiums strengthened again. WTI rose 2.09% to close at US$96.37/barrel, while Brent gained 2.75% to US$108.23/barrel, confirming the market is still pricing in Hormuz-related supply disruptions. However, reports suggested Iran offered a new proposal to reopen the strait and end the war with nuclear talks postponed; the White House confirmed Trump and his national security team had discussed the proposal—keeping the market headline-driven. (Arl)*
Source: Newsmaker.id
