Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.1%), Nasdaq Composite (+0.2%), and DJIA (flat) trade mostly higher amid a relatively muted session this morning.

There is a lingering sense of caution as the market awaits further clarity on the state of negotiations between the U.S. and Iran. Axios reported that discussions are taking place for a potential 45-day ceasefire.

However, Axios reporter Barak Ravid says a U.S. official described Iran’s 10-point response as “maximalist,” casting doubt on progress toward a deal.

Additionally, President Trump’s deadline for a deal expires tomorrow, with the president signaling a willingness to escalate attacks on Iranian infrastructure if a deal is not struck. For the time being, oil prices are modestly higher today, with crude oil currently up $0.89 (+0.8%) to $112.43 per barrel as the market awaits further clarity.

President Trump will give a military address at 1:00 p.m. ET today.