Global financial markets moved in mixed but broadly positive territory on Thursday as oil prices declined and equities rose amid cautious optimism over potential progress in US–Iran negotiations, even as both sides maintained firm positions on key issues including Iran’s uranium stockpile and control over the Strait of Hormuz.
A senior Iranian source told Reuters that no agreement has been reached with the United States, but gaps in negotiations have narrowed. US Secretary of State Marco Rubio said there were “some good signs” in talks, though he stressed that any toll system in the Strait of Hormuz would be unacceptable. US President Donald Trump separately said Washington would eventually recover Iran’s stockpile of highly enriched uranium.
Earlier gains in oil prices reversed after reports that Iran’s Supreme Leader had issued a directive stating that the country’s near-weapons-grade uranium should not be sent abroad. Brent and US crude prices had initially risen before turning lower on easing supply-risk sentiment.
US crude (CLc1) fell $1.91 to settle at $96.35 per barrel, while Brent crude (LCOc1) dropped $2.44 to settle at $102.58.
On Wall Street, major indices closed higher. The Dow Jones Industrial Average rose 276.31 points, or 0.55%, to 50,285.66. The S&P 500 gained 12.75 points, or 0.17%, to 7,445.72, while the Nasdaq Composite added 22.74 points, or 0.09%, to 26,293.10.
US Treasury yields also eased, with the benchmark 10-year note yield falling 0.8 basis points to 4.575%, after earlier reaching its highest level since January 2025 earlier in the week.
Broader global equities followed the same upward trend, with MSCI’s world stock index rising 5.24 points, or 0.48%, to 1,106.89. Europe’s STOXX 600 ended slightly higher, up 0.04%.
In corporate developments, Nvidia shares fell 1.8% as investors booked profits despite the company reporting stronger-than-expected earnings and announcing an $80 billion share buyback program. Analysts said recent gains in artificial intelligence-linked stocks had fueled profit-taking.
IBM shares surged 12.4% after reports that the US administration will fund several quantum computing companies, including a new IBM venture, in exchange for equity stakes. Other quantum computing firms, including D-Wave Quantum, also rallied sharply.
Investor sentiment was further shaped by optimism around artificial intelligence and energy prices. Market analysts noted that lower oil prices below the $100 mark could ease inflationary pressures and support equity valuations.
In geopolitical developments, SpaceX filed paperwork for a potential IPO, offering early insight into its expansion into artificial intelligence-driven ventures under Elon Musk’s broader technology strategy.
In Turkey, financial markets came under pressure after the country’s top court annulled the 2023 Republican People’s Party congress, triggering political uncertainty. Trading was temporarily halted after sharp declines, while Turkish government bonds fell and the US-listed iShares MSCI Turkey ETF dropped 9.2%.
Currency markets remained largely steady. The US dollar index was unchanged at 99.13 after earlier touching a six-week high. The euro edged down 0.03% to $1.1624.
Gold prices slipped slightly, with spot gold falling 0.04% to $4,541.79 per ounce, as investors balanced geopolitical risks with easing energy market concerns.