U.S. Futures Trim Losses as Iran Offer Reopens Hormuz in 7 Days, Oil Drops 2%
Updated
Updated · CNBC · Sep 21
U.S. Futures Trim Losses as Iran Offer Reopens Hormuz in 7 Days, Oil Drops 2%
3 articles · Updated · CNBC · Sep 21
Summary
Dow futures rose 200 points, or 0.4%, while S&P 500 futures edged up 0.1% and Nasdaq-100 futures hovered near flat after earlier losses narrowed.
Iran's reported offer to reopen the Strait of Hormuz within seven days pushed Brent down 1% to $98.92 a barrel and U.S. crude down 2% to $93.50, easing one of the market's main pressures.
Monday's cash session had already shown that link: the S&P 500 gained 1.5%, the Nasdaq jumped 2.3% to its first record close since June, and the Dow added 366 points as oil and Treasury yields fell.
Washington is now the next focus, with Donald Trump and Xi Jinping set to discuss artificial intelligence, the Iran war, tariffs and rare earths after Treasury Secretary Scott Bessent met Vice Premier He Lifeng.
Investors also face fresh policy signals this week from the Richmond Fed manufacturing survey and speeches by New York Fed President John Williams and Richmond Fed President Tom Barkin.