Market Talks covering the impact of U.S. Politics and White House policies on companies and markets. Published exclusively on Dow Jones Newswires throughout the day.
0338 ET - Oil prices rebound following a 10% drop in the previous trading session, with The Wall Street Journal reporting that U.S. allies in the Persian Gulf are moving closer to joining the fight against Iran. In early trade, Brent crude gains 2.5% to $102.43 a barrel, while WTI is up 2.9% to $87.85 a barrel. Crude benchmarks plunged on Monday after President Trump postponed strikes on Iranian energy infrastructure following what he described as "productive" talks with Tehran. Iran denied holding negotiations with the U.S., but confirmed that mediation efforts were underway by other nations. "The market reaction likely reflects some retreat in the perceived risks of lengthy disruptions and of damage to energy assets," Goldman Sachs analysts write. However, severe disruptions persist, with flows through the Strait of Hormuz largely halted. (giulia.petroni@wsj.com)
0314 ET - President Trump's claim of "very good and productive" negotiations with Iran signals his attempt at de-escalation, according to Pepperstone's Michael Brown. After Trump said Washington and Tehran held conversations, Iran denied them, but "whether or not talks have taken place is somewhat immaterial," the research strategist says in a note. The move signals that Trump has reversed the ultimatum issued over the weekend and seems to be pursuing de-escalation for the first time since the conflict began. "We might finally be seeing a faint chink of light at the end of the tunnel when it comes to the ongoing Middle East conflict." (sherry.qin@wsj.com)
0247 ET - It's too early to get too optimistic about 'peace deals' in the Middle East getting baked in the next couple of days as demands of both sides still seem unbridgeable, Macquarie's Thierry Wizman and Gareth Berry say in a note. "It's far-fetched to imagine the U.S. dropping its demands pertaining to Iran's nuclear assets, or that the U.S. would just leave its bases in the Gulf," the global strategists say. It is also far-fetched to see Iran dropping support for its proxy armies at this stage, they say. That said, "the war is unlikely to last beyond mid-April because Iran's threats are likely to be neutralized by then." But once neutralized, the U.S. will have the upper hand in any negotiations that ensue, they say. (emese.bartha@wsj.com)
2238 ET - Asian currencies weaken against the dollar in morning trading amid a cautious mood over President Trump's Truth Social post overnight that he will postpone military strikes against Iranian energy infrastructure for five days. There is a significant economic disruption to Asia, and potential energy shortages are already arising from the Strait of Hormuz closure, affecting the region, MUFG Bank's Michael Wan says in a note. There could also be difficulty in U.S.-Iran negotiations going forward, the senior currency analyst adds. The dollar rises 0.8% to 1,498.10 won and climbs 1.0% to 32.57 baht, while the Australian dollar falls 0.4% to $0.6978, LSEG data show. (ronnie.harui@wsj.com)
1550 ET - Treasury yields decline as President Trump's suspension of strikes against Iran gives some comfort to global markets. As a result, fed futures reduce bets on an interest rate increase this year. Some investors remain cautious. "Today's [news] has not changed my views which is general caution and neutrality," Natixis' John Briggs says. He adds that "a thin headline driven market with a large level of uncertainty is not the time to recommend investors to deploy capital." The 10-year yield drops 0.056 percentage point to 4.334%. The two-year falls 0.063 p.p. to 3.830%, its largest one-day decline in nearly a month. March U.S. services PMI is expected to soften slightly. (paulo.trevisani@wsj.com; @ptrevisani)
1248 ET - A ban of prediction-market trading on sports events could throw off DraftKings' business strategy for 2026. The company is rolling out a predictions platform in states where sports betting is illegal, a market expansion that management has estimated could be worth $10 billion. The improving regulatory landscape played a major role in DraftKings' decision to launch prediction markets, CEO Jason Robins said earlier this year. But a bipartisan bill introduced to the Senate this week could eliminate DraftKings' ability to offer prediction markets for sports events. While DraftKings hasn't quantified its spending on predictions, it did give a lower-than-expected annual outlook, which included new predictions investments. (katherine.hamilton@wsj.com)
1133 ET - U.S. Energy Secretary Wright seeks to assure the public a bright future lies ahead. "We're going through a short-term period of disruption right now, but the long term benefits will be enormous," he says. He believes Iran's grip on the Strait of Hormuz will be "dramatically reduced." Wright says it is "highly unlikely" that more crude will need to be released from strategic reserves, while assuring stockpiles will wind up higher at the end of next year. Wright acknowledges that U.S. refineries may need to become more efficient, while saying Venezuelan oil production has increased about 20% since the U.S. intervention. (paulo.trevisani@wsj.com; @ptrevisani)
1130 ET - Oil prices extend losses, with Brent crude back below $100 a barrel after President Trump said the U.S. would postpone strikes on Iranian energy infrastructure for five days following "productive" talks with Tehran. The international oil benchmark dives 13% to $98 a barrel, while the U.S. oil gauge WTI is down 12% to $83.8 a barrel. Iran's Foreign Ministry denied Tehran was in talks with the U.S., according to state media. European natural-gas prices also slump, with the benchmark Dutch TTF front-month contract down 8.7% to 54.13 euros a megawatt-hour. (giulia.petroni@wsj.com)
1109 ET - The cost of insuring euro credit against default drops back from elevated levels after President Trump said the U.S. would postpone strikes on Iranian energy infrastructure for five days. The iTraxx Europe Crossover index of euro high-yield credit default swaps retreats to 335 basis points, having hit an 11-month high of 365bps in early trade, LSEG data show. Trump's announcement brings some relief to investors. However, uncertainty remains and credit CDS levels stay high. The iTraxx Europe Crossover index stood at around 260bps before U.S.-Israeli military strikes on Iran began. (miriam.mukuru@wsj.com)
1043 ET - Sterling looks vulnerable to falls in the event of a rout in U.K. government bonds, Rabobank's Jane Foley says in a note. The U.K.'s large government debt and current account deficit suggest the gilt market is more susceptible to suffering market jitters, she says. "On top of higher inflation, calls for the government to provide financial support for the economy in the face of higher energy prices is unsettling for the gilts market," she says. Concerns about a potential leadership challenge for U.K. Prime Minister Keir Starmer ahead of May local elections is another risk. Sterling rises 0.7% to $1.3438 and the euro falls 0.4% to 0.8640 pounds after President Trump said the U.S. would postpone attacks on Iranian energy infrastructure. (renae.dyer@wsj.com)
1028 ET - Investors pare down bets on an interest rate increase in the U.S., as oil prices fall around 10% following President Trump's indications that talks with Iran are advancing. Sharply rising oil prices stoked inflation fears in past weeks, leading markets to brace for at least one Fed hike. The prospect of de-escalation revives expectations of a prolonged hold. "Right now the only issue that matters for financial markets is what the price of oil is," AllianceBernstein's Eric Winograd says. He expects the Fed to cut rates this year. On CME, odds of a hike by December fall to 19% from 25% on Friday. (paulo.trevisani@wsj.com; @ptrevisani)
1025 ET - Live cattle futures are up 0.3% in early trading, with livestock getting a lift following President Trump's post on Truth Social stating that the U.S. would pause plans to strike Iranian power plants for five days to allow for negotiations. Easing energy costs are seen easing the squeeze on consumers wallets, but it's also taking focus away from other factors that are less promising for cattle, says the Hightower Report in a note. Friday's Cattle on Feed report from the USDA showed higher inventories than expected by analysts, with total inventories slid 0.2 percentage points versus the expected 0.8 percentage points by analysts surveyed by The Wall Street Journal. Lean hogs are up 0.4% this morning. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
March 24, 2026 03:39 ET (07:39 GMT)
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