Stocks climb, yields dip as investors focus on US-Iran talks
Yahoo Finance • • business
Key Points:
- Major U.S. stock indexes rose on Friday, with the Dow hitting a record high since the Iran war began, as investors weighed progress toward a potential near-term deal to end the U.S. and Israeli conflict with Iran.
- Oil prices increased amid ongoing uncertainty around the Iran talks, while U.S. consumer sentiment fell to a record low in May due to rising gasoline prices and affordability concerns.
- Diplomatic efforts intensified, including a meeting between Iran's foreign minister and Pakistan's interior minister, though key issues like Iran's enriched uranium and control over the Strait of Hormuz remain unresolved.
- Treasury yields eased slightly after recent highs, with the 10-year yield down 3.4 basis points, while Turkey's markets rebounded following political turmoil affecting the main opposition party.
- The U.S. dollar remained near six-week highs as traders monitored geopolitical developments and assessed potential Federal Reserve rate hikes amid inflation concerns; meanwhile, Japan's core inflation slowed, complicating Bank of Japan policy outlook.