Stocks Hold Near Record Highs as Hormuz Deal Remains Elusive

Source Summary

Global stocks traded near record highs following weak US jobs data that reduced expectations for Federal Reserve interest-rate increases. Oil prices held around $83 per barrel as negotiations for a shipping agreement through the Strait of Hormuz with Oman remained unresolved. Iran's Foreign Minister Abbas Araghchi stated the agreement was "very close" but ruled out direct talks with the US, citing violations of an interim peace deal reached in June.