Stock Market Update

[BRIEFING.COM] Today's trends remain entrenched as the major indices have moved sideways in their respective ranges throughout the afternoon trade.

There continues to be a headline back and forth as to whether a meeting between the U.S. and Iran will take place this weekend.

At the bottom of the hour, Axios reporter Barak Ravid said, "Iran's state news agency IRNA reports that at the moment there is no planned meeting between Araghchi and Trump's envoys Witkoff and Kushner. IRNA reported Araghchi is going to Pakistan to convey Iran's position about the current state of the war." Meanwhile, the New York Times reports that Iranian Foreign Minister Abbas Araghchi will make a written response to a U.S. proposal.

Not sure where that leads, yet the stock market is still clinging to the view that what comes next won't be profoundly harmful to the global economy. On a related note, Chevron CEO Mike Wirth (CVX 184.04, -3.56, -1.90%) told CBS News that he expects air travel disruptions due to jet fuel shortages.