Stocks Mostly Rise, Vance Warns Iran, Russia-Ukraine Hopes, More
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What updates are there on stock market trends this week?
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News when you want it with Bloomberg News Now. I'm Nathan Hager. We have made it to the end of a volatile trading week on Wall Street. That is the sound of the opening bell from the floor of the New York Stock Exchange. And at the open on this Friday morning, the S&P 500 is higher by almost 3 tenths of 1%, a gain of nearly 20 points. The Dow Jones Industrial Average is little change to higher, up about 10 points at the start. And the Nasdaq Composite opens higher as well, up 0.4% or almost 100 points, with all eyes on Islamabad ahead of high-stakes talks tomorrow on ending the U.S. war with Iran.
If the Iranians are willing to negotiate in good faith, we're certainly willing to extend the open hand. If they're going to try to play us, then they're going to find that the negotiating team is is not that receptive.
Vice President JD Vance spoke with reporters before boarding Air Force Two to lead the discussions in Pakistan. Bloomberg's Dan Williams has more from Jerusalem.
A very consequential meeting tomorrow hosted by Pakistan. For now, the precursor arrangement appears to be holding in terms of a official end to U.S.-Israeli strikes on Iran. There's an open question, however, over Lebanon, where Israel has continued its offensive. Iran says Lebanon should be included in the ceasefire. The U.S. and Israel say it is not included in the ceasefire. However, it appears that the Israelis are dialing down their strikes, possibly at the request of the Americans, in order to keep those Pakistan talks on.
Bloomberg's Dan Williams reports Israel has agreed to talks with Lebanon next week in Washington. The Wall Street Journal reports they'll be held with ambassadors, not at a more senior level. Ahead of the Pakistan talks, President Trump is making new threats over the Strait of Hormuz. Bloomberg's Tyler Kendall has more from Washington.
In a pair of posts on Truth Social yesterday, the president said that Iran better not be charging tolls on ships that are transiting through the waterway and that Iran is doing a, quote, very poor job when it comes to reopening it. And this is important because, of course, reopening the strait is pivotal to the two-week agreement, but it is underscoring the potential difficulties ahead for a longer-term agreement, considering that we know one of Iran's top demands is that they want sovereignty over the strait.
Bloomberg's Tyler Kendall reports a Russian supertanker was allowed through the strait last night, a rare passage for that country. And while Kuwait reported more attacks overnight and Israel and Hezbollah continue to exchange fire, Pakistani officials say they still expect an Iranian delegation to arrive for the talks tonight. And White House economic advisor Kevin Hassett says the White House has backup plans for opening the Strait of Hormuz. He tells Fox Business the pathway can be open within two months. Right now, West Texas Intermediate Crude is higher by about six-tenths of one percent, trading around $98 a barrel. Brent is little changed at close to $96.
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