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UAE Shares Gain Amid US-Iran Talks Focus

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Emirati stocks closed Wednesday's trading session in the green as the FTSE ADX General Index added 0.359%, while the DFM General Index gained 0.182%.

US President Donald Trump stated that US officials had a "very productive" meeting with the Iranian delegation in New York, raising hopes of further diplomacy between the two countries. Trump's comments came after his UN General Assembly speech, during which he threatened to annihilate Iran if a deal is not reached.

Iranian Foreign Minister Abbas Araqchi, meanwhile, put forward conditions to reopen the Strait of Hormuz, including lifting of the US naval blockade, release of frozen assets and ending the war across all fronts.

"Oil prices fell sharply on Wednesday, with Brent dropping below $99/bbl and WTI trading near $89/bbl. The sell-off was driven by expectations of rising Saudi crude exports, diplomatic progress between the US and Iran, and a larger-than-expected build in US crude inventories, all of which helped ease concerns over Middle East supply disruptions. Brent has now declined for six consecutive sessions, its longest losing streak since August 2025, bringing cumulative losses to more than 9.5%," ING said.

​Back home and on the corporate front, Space42 (ADX:SPACE42) unit Mira Aerospace and Telespazio Ibérica launched the wildfire-monitoring mission in Spain using the ApusNeo18 solar-powered high-altitude platform system. Space42 was 0.44% up at closing.

​Over in Dubai, Talabat Holding (DFM:TALABAT) partnered with Zest Nest Culinary to launch two new delivery-first concepts in Dubai. The online food delivery company Talabat's stock ended the session flat.

What else is happening in Asia Markets?

Asia Markets

Update: US Equity Indexes Close Mixed While Treasury Yields Retreat With Crude Oil

(Updates with index/price moves and comments from the first paragraph.)US equity indexes ended mixed Tuesday, with materials emerging as top gainers while financials fronted the decliners.The Nasdaq Composite rose 0.5% to 27,244.28, after hitting an intraday record earlier in the session. The Dow Jones Industrial Average fell 0.4% to 51,863.69 while the S&P 500 was unchanged at 7,764.64.Energy and communication services were among the decliners, while the consumer staples sector was one of the biggest outperformers.On Monday, more US stocks in the S&P 500 index scored new 52-week lows during the session than notched 52-week highs, CNBC reported. The last time that occurred for the S&P 500 was in December 1999, the year before the dot.com bust, the news report said.US President Donald Trump told the UN General Assembly that a deal with Iran is possible after the midterm elections, but his other choice is to "annihilate the Islamic Republic," CNN reported.The key actors in the US-Iran war will be having meetings in New York, starting Tuesday, Thierry Wizman, global foreign-exchange and rates strategist at Macquarie, said in a note. "And the agreements and accords that come out of those meetings may determine whether the war continues and intensifies or whether an off-ramp is found.The front-month US West Texas Intermediate crude oil contract dropped 1.2% to $94.59 per barrel, while the global benchmark North Sea Brent slumped 1.6% to $98.69 per barrel.The Federal Reserve's next interest rate increase could come as early as October as higher oil prices threaten to push inflation farther away from the US central bank's 2% goal, Oxford Economics said in a report e-mailed Tuesday. The research outfit has raised its projections for oil prices, factoring in risks to oil shipments via the Red Sea at a time when the Strait of Hormuz remains effectively closed.The US Treasury's 2-year auction hit a high yield of 4.787% on Tuesday, up from the 4.204% high in the previous auction. The bid-to-cover ratio for the auction was 2.63, above the 2.60 ratio in the previous auction.Most US Treasury yields slipped, with the 10-year yield leaning lower to 4.96% and the two-year rate down by less than one basis point to 4.75%.Gold futures rose 0.3% to $4,397.5, and silver futures jumped 1.8% to $67.63, turning the corner from earlier in the day.In economic news, Redbook US same-store sales rose by 7.6% from a year earlier in the week ended Sept. 19 after an 8.5% year-over-year increase in the previous week.In company news, Amgen's (AMGN) phase 3 study of dazodalibep met its primary endpoint, showing statistically significant and clinically meaningful improvement in systemic disease activity at week 48 in adults with Sjogren's disease, the drugmaker said. Shares jumped 4.3%, the Dow's top gainer.

Dow JonesNasdaq CompositeS&P 500$AMGN
Asia Markets

Update: US Equity Indexes Mixed in Midday Trading

(Updates with index/price moves, macroeconomic data, and comments from the first paragraph.)US equity indexes were mixed, with materials emerging as top gainers while financials fronted decliners, in midday trading on Tuesday.The Nasdaq Composite edged up 0.3% to 27,211.5, after hitting an intraday record earlier in the session. The Dow Jones Industrial Average fell 0.4% to 51,821.2 while the S&P 500 was unchanged at 7,763.9. Financials and communication services led decliners.US President Donald Trump told the UN General Assembly that a deal with Iran is possible after the midterm elections, but his other choice is to "annihilate the Islamic Republic," CNN reported.The front-month US West Texas Intermediate crude oil contract climbed 0.5% to $96.30 per barrel, while the global benchmark North Sea Brent declined 0.3% to $100.05 per barrel.The Federal Reserve's next interest rate increase could come as early as October as higher oil prices threaten to push inflation farther away from the US central bank's 2% goal, Oxford Economics said in a report e-mailed Tuesday. The research outfit has raised its projections for oil prices, factoring in risks to oil shipments via the Red Sea at a time when the Strait of Hormuz remains effectively closed.The US Treasury's 2-year auction hit a high yield of 4.787% on Tuesday, up from the 4.204% high in the previous auction.The bid-to-cover ratio for the auction was 2.63, above the 2.60 ratio in the previous auction.Most US Treasury yields declined after midday, with the 10-year yield unchanged at 4.96% and the two-year rate less than one basis point to 4.75%.In economic news, Redbook US same-store sales rose by 7.6% from a year earlier in the week ended Sept. 19 after an 8.5% year-over-year increase in the previous week.The Richmond Fed's monthly manufacturing index fell to minus 2 in September from 4 in August, compared with the expectations for 2 in a survey compiled by Bloomberg.The Philadelphia Federal Reserve Bank's monthly non-manufacturing activity index worsened to minus 22.0 in September from minus 10.6 in the previous month, compared with the expectations for an improvement to minus 8.7 in a survey compiled by Bloomberg.In company news, Amgen's (AMGN) phase 3 study of dazodalibep met its primary endpoint, showing statistically significant and clinically meaningful improvement in systemic disease activity at week 48 in adults with Sjogren's disease, the drugmaker said. Shares jumped 3.9%, the Dow's top gainer.

Dow JonesNasdaq CompositeS&P 500$AMGN
Asia Markets

Exchange-Traded Funds Rise, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV edged higher. Actively traded Invesco QQQ Trust (QQQ) added 0.5%.US equity indexes traded mixed, with materials leading gainers and financials fronting decliners after midday on Tuesday.EnergyIShares US Energy ETF (IYE) fractionally up and the State Street Energy Select Sector SPDR (XLE) down less than 0.1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) added 0.4%; iShares US Technology ETF (IYW) rose 0.4%, and iShares Expanded Tech Sector ETF (IGM) gained 0.3%.The State Street SPDR S&P Semiconductor (XSD) was up 1.4%, and iShares Semiconductor (SOXX) rose 1.6%.FinancialThe State Street Financial Select Sector SPDR (XLF) was 1.8% lower. Direxion Daily Financial Bull 3X Shares (FAS) declined 5.5%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), advanced 5.6%.CommoditiesCrude added 0.5%, and the United States Oil Fund (USO) was down 0.9%. Natural gas gained 4%, and the United States Natural Gas Fund (UNG) moved 4.1% higher.Gold on Comex slipped 0.2%, and the State Street SPDR Gold Shares (GLD) was down 0.2%. Silver added 0.3%, and iShares Silver Trust (SLV) added 0.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) added 1.1% and the Vanguard Consumer Staples ETF (VDC) rose 1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was up 0.3%. VanEck Retail ETF (RTH) added 0.4%, and the State Street SPDR S&P Retail (XRT) rose 1.5%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) gained 0.6%, while iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) added 0.8% each. IShares Biotechnology ETF (IBB) was up 1.7%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell fractionally. Vanguard Industrials Index Fund (VIS) was up 0.1% and iShares US Industrials (IYJ) dipped 0.1%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) was fractionally lower. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) declined less than 0.1%, ProShares Ether ETF (EETH) was down 0.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) dropped 0.5%.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH