economy
CNBC Daily Open: Mixed messaging on Iran-U.S. possible deal
Developments relating to the Strait of Hormuz remain in focus, amid optimism Washington and Tehran could reach a deal to open the Strait of Hormuz on Tuesday or Wednesday, U.S. Treasury Secretary Scott Bessent told CNBC.
TL;DR
- Traders are focused on the Strait of Hormuz amid potential optimism for a U.S.-Iran deal.
- U.S. Treasury Secretary Scott Bessent suggested a deal could be reached by Wednesday.
- About 20% of the world's oil flowed through the Strait of Hormuz before the war.
- The U.S. Central Command stated the southern route through the waterway remains open.
- Tensions persist between the U.S. and Iran, with reports of warnings exchanged.
- U.S. stocks surged overnight, and Asian markets were higher.
- Investors are scrutinizing companies' growth outlooks during earnings season.
- SpaceX's stock fell despite better-than-expected revenue, due to concerns over rising capital expenditures.
- Advanced Micro Devices reported strong earnings but also significant increases in capital expenditure, impacting its stock.
- Paramount Skydance raised its full-year profit guidance after exceeding revenue expectations.