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Oil Slumps, US Futures Rise on Iran Talks Optimism: Markets Wrap

Bloomberg Markets Sunday 02 August 2026, 22:09 UTC By Matthew Burgess 1 min read
Key Points

Oil Slumps, US Futures Rise on Iran Talks Optimism: Markets Wrap Oil dropped, US equity futures rose and the dollar slipped after President Donald Trump said fresh US-Iran talks would begin Monday, boosting optimism the two sides could reach a deal to reopen the Strait of Hormuz. S&P 500 contracts climbed in early trading after the underlying gauge rose 0.7% on Friday. The risk-sensitive Australian dollar led gains against the greenback, while the yen edged higher as traders remained alert...

Oil Slumps, US Futures Rise on Iran Talks Optimism: Markets Wrap Oil dropped, US equity futures rose and the dollar slipped after President Donald Trump said fresh US-Iran talks would begin Monday, boosting optimism the two sides could reach a deal to reopen the Strait of Hormuz. S&P 500 contracts climbed in early trading after the underlying gauge rose 0.7% on Friday. The risk-sensitive Australian dollar led gains against the greenback, while the yen edged higher as traders remained alert for further coordinated intervention to support the currency.
US (LOCATION) Donald Trump (PERSON) Iran (LOCATION) the Strait of Hormuz (LOCATION) Australian (ORG)
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