Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.4%), Nasdaq Composite (-0.6%), and DJIA (-0.5%) have shed around half of their previous losses just after midday.

There is a glimmer of hope on the geopolitical front that contributes to the bounce, as Iran's state-controlled newspaper, Tehran Times, said via X, "Diplomatic and indirect channels of talks with the US are not CLOSED."

Additionally, President Trump left the door open for a potential off-ramp in a Truth Social post, writing, "now that we have Complete and Total Regime Change, where different, smarter, and less radicalized minds prevail, maybe something revolutionarily wonderful can happen, WHO KNOWS?"

Crude oil has retreated from its earlier highs, currently up $2.30 (+2.1%) to $114.71 per barrel.