US stock futures were little changed in Thursday’s trade, 26 March, as investors continued to monitor the latest developments in the Middle East amid growing expectations that the United States and Iran could potentially engage in negotiations to end the war.
Futures of the three key indices — the Dow Jones Industrial Average, S&P 500, and Nasdaq — were trading largely flat, in the range of 0.1%–0.2%.
All three major averages closed Wednesday’s session higher after Washington reportedly delivered a proposal to Iran, while comments from Iranian officials suggested Tehran might be open to diplomatic engagement, even as it publicly denied any ongoing negotiations.
Both Iran and the have issued conflicting statements on the progress of efforts to end the war, with Tehran putting forth its own proposals even as its military continued missile strikes on Israel.
US President Donald Trump has said a deal to end the Iran war is near, even after Tehran dismissed his ceasefire plan. Media reports on Wednesday indicated that the US has sent Iran a to end the conflict.
In response to Trump’s proposal, Iran issued its own plan via state television, which includes a halt to the killing of its officials, assurances against future attacks, reparations for the war, an end to hostilities, and recognition of Iran’s sovereignty over the Strait of Hormuz, AP reported.
Iran’s foreign minister reportedly told state media on Wednesday that top authorities in the country are but reiterated that Tehran has no intention of holding direct talks with Washington.
Araghchi said the US had attempted to send messages to Iran through intermediaries, “but that is not a conversation nor a negotiation.”
Tehran remains highly suspicious of the United States, which, under the Trump administration, has twice launched attacks during high-level diplomatic engagements, including the February 28 strikes that triggered the current conflict.
Earlier this week, Trump paused strikes on Iran’s energy infrastructure, citing “very good and productive” talks with Tehran.
On the data front, investors will parse weekly jobless claims data and comments from Federal Reserve officials Lisa Cook, Stephen Miran, Michael Barr, and Philip Jefferson.
Crude prices regain strength; Brent is back above $100
after a brief pause, with Brent crude futures rising 4% to the day’s high of $101.29 per barrel. Meanwhile, US benchmark crude jumped 4.13% to an intraday high of $94 per barrel.
Oil prices have remained highly volatile as the Strait of Hormuz — through which roughly 20% of the world’s oil supply passes — has effectively been shut since the US-Israel escalation against Iran in late February.
Hundreds of vessels are reportedly anchored nearby, while global shipping companies and oil exporters have paused operations due to heightened security concerns.
(With inputs from AP)
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