“Iran wants to make a deal, but he is not ready yet,” stated President Donald Trump, reflecting the ongoing complexities in U.S.-Iran relations amid escalating tensions.

Futures tied to the Dow Jones Industrial Average rose 0.3%, while S&P 500 and Nasdaq 100 futures also gained 0.3%. This uptick comes as oil prices have climbed above $100 a barrel for the first time since 2022, driven by the ongoing conflict in the region.

West Texas Intermediate crude advanced about 2% to around $100.90 per barrel, and Brent crude rose roughly 2.6% to hover above $105. The surge in oil prices is attributed to halted traffic in the Strait of Hormuz, a crucial shipping route, since the onset of the war.

The S&P 500 finished Friday at its lowest level of the year, marking its third consecutive week of losses. The index has seen a decline of 1.6%, while the Dow and Nasdaq experienced declines of 2% and 1.3%, respectively.

As the Federal Reserve prepares for its second policy meeting of the year, market participants are closely monitoring economic indicators and geopolitical developments. The Fed’s decisions could significantly impact market sentiment in the coming weeks.

In addition to the Fed’s meeting, Nvidia’s annual GTC conference is set to kick off Monday, which may also influence market dynamics as investors look for insights into technology trends and company performance.

With the geopolitical landscape shifting rapidly, traders remain cautious. The situation in Iran continues to evolve, and further developments could lead to increased volatility in the markets.

Details remain unconfirmed regarding the potential outcomes of negotiations with Iran, but the market is reacting to the uncertainty and potential for further conflict.

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