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US Equity Markets End Lower After Crude Oil, Government Bond Yields Rise Following US-Iran Military Escalation

US equity indexes ended lower Monday after crude oil prices and government bond yields rose following US-Iran military escalation.* Iran and the US traded attacks for the first time in over a month overnight into Monday, CNN reported. Iran said it attacked US bases in Jordan and US military targets at the Al Minhad airbase in the United Arab Emirates after US forces bombed two rocket launchers on Iran's Larak Island, according to a report from Al Jazeera.* The Dallas Fed's monthly manufacturing index jumped to 11.6 in August from 1.3 in July, above expectations for 1.6 in a survey compiled by Bloomberg, indicating a faster pace of expansion.* October West Texas Intermediate crude oil rose $2.58 to settle at $85.98 per barrel, while November Brent crude, the global benchmark, was last seen up $2.35 at $90.45.* Tesla (TSLA) is selling a simplified version of Model 3 at a lower price in Hong Kong and Macau than in mainland China, according to media reports and the company's regional websites. Shares were up about 5.5%, the top gainer on the S&P 500 and Nasdaq.* Shares of PG&E (PCG) and Edison International (EIX) were down over 20%, the worst performers on the S&P 500, after ABC7 reported Sunday that California amended legislation to protect wildfire survivors' right to sue utilities for equipment-caused blazes.

Update: US Equity Indexes Fall Amid Gains in Crude Oil, Benchmark Treasury Yield

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes fell as crude oil jumped amid renewed Washington-Tehran military escalation and the 10-year government bond yield rose to its highest in about a month.The Nasdaq Composite fell 0.2% to 26,339.3, the S&P 500 retreated 0.3% to 7,686.7, and the Dow Jones Industrial Average slid 0.6% to 53,259.1 ahead of Monday's close. All sectors, except energy and technology, declined. Communication services led decliners, followed by utilities and industrials.Iran's military has reiterated a warning to the region not to allow the US military to launch attacks from their soil or risk retaliation, Al Jazeera, a Middle Eastern broadcaster, reported."As we have demonstrated on the ground, while respecting the national sovereignty of our neighbours, we will never tolerate any form of aggression and will respond with a far heavier retaliation," Al Jazeera cited a military statement."Those facilitating US aggression against the Islamic Republic of Iran should know that our powerful armed forces -- the IRGC and the Army, standing shoulder to shoulder -- will decisively target the source of any aggression."The front-month US West Texas Intermediate crude oil contract advanced 2.7% to $85.69 per barrel, and global benchmark North Sea Brent climbed 2.5% to $90.32 per barrel.US Treasury yields were mixed in the final leg of trading. The 10-year yield climbed 3.4 basis points to 4.76%, the highest since July-end, while the two-year was steady at 4.35%. The 30-year yield jumped 4.5 basis points to 5.25%.

Update: US Equity Indexes Fall, Crude Oil Jumps as Iran Hostilities Resume

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes declined as investors weighed renewed Washington-Tehran military escalation amid higher crude oil prices.The Nasdaq Composite fell 0.5% to 26,276.1, the S&P 500 retreated 0.5% to 7,676.2, and the Dow Jones Industrial Average slid 0.7% to 53,204.2 after midday Monday.All sectors, except energy, declined. Communication services led decliners, followed by utilities, industrials, and real estate.President Donald Trump said the US will respond to an Iranian attack on US forces overnight in Jordan, Fox News reported. US air defenses intercepted all but one Iranian missile, which was allowed through because it was not expected to hit anything of consequence, the report said, citing the president.The front-month US West Texas Intermediate crude oil contract jumped 2.7% to $85.67 per barrel, and global benchmark North Sea Brent surged 3% to $90.68 per barrel.US Treasury yields were mixed after midday. The 10-year yield climbed 3.8 basis points to 4.76%, while the two-year fell 1.1 basis points to 4.34%.

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US Equity Futures Slightly Lower Pre-Bell as US, Iran Resume Hostilities in Middle East

US equity futures were edging slightly lower pre-bell Monday as the US and Iran resumed hostilities for the first time since late July, raising oil prices and dampening hopes for an early resolution of the conflict between the two nations.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.2% lower.US forces on Sunday struck two rocket launchers on Iran's Larak Island, US Central Command told MS Now. Iran responded by attacking US bases in Jordan, Iranian state media reported.President Donald Trump posted on Truth Social an AI-generated video clip that he said showed Iran's oil hub Kharg Island being "blown to smithereens".Expected to report financial results this week are Dell Technologies (DELL), Palo Alto Networks (PANW), Medtronic (MDT), Broadcom (AVGO), Snowflake (SNOW), and Hewlett Packard Enterprise (HPE).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $91.10 per barrel and US West Texas Intermediate crude 3.7% higher at $86.53 per barrel.The Dallas Fed manufacturing survey for August will be released at 10:30 am ET.

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US Equity Markets End Lower After Govt Bond Yields Rise Following Fed Chair Warsh's Comments on Inflation

US equity indexes ended lower Friday after government bond yields rose following Federal Reserve Chairman Kevin Warsh's statement that inflation is the more concerning part of the central bank's dual mandate.* "The Fed's price-stability objective of 2%, as measured by the personal consumption expenditures price index, is a firm, fixed target," Warsh said, speaking at the annual Jackson Hole Economic Policy Symposium.* Mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, with Tehran agreeing to draw up a list of conditions to restore normal traffic after the Qatari prime minister asked the Iranians to respect freedom of navigation, Reuters reported.* The University of Michigan consumer sentiment index was revised upward on Friday to 51.7 for August from 51.0 in the preliminary estimate, compared with expectations of no revision in a survey compiled by Bloomberg.* October West Texas Intermediate crude oil fell $0.15 to settle at $83.38 per barrel, while October Brent crude, the global benchmark, was last seen down $0.33 at $89.37.* Workday (WDAY) shares were up about 5.8%, the top gainer on the S&P 500, after it raised the low end of its full-year subscription revenue outlook following fiscal Q2 results above Wall Street's estimates.* Paypal (PYPL) shares were down roughly 13%, the worst performer on the S&P 500, after Bloomberg News reported that Advent and Stripe have backed out of their bid to buy the company.

Update: US Equity Indexes Slide, Treasury Yields Surge After Fed Chair Warsh Offers Little Monetary Policy Guidance

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes declined while government bond yields jumped after Federal Reserve Chairman Kevin Warsh stressed his focus on the 2% inflation target while offering little guidance on the monetary policy path ahead, as expected.The Nasdaq Composite fell 0.5% to 26,402.4, and the S&P 500 slipped 0.3% to 7,711.7 on Friday. The Dow Jones Industrial Average was down less than 0.1% to 53,559.99.Speaking at the annual Jackson Hole Economic Policy Symposium, Warsh, as expected, did not offer any change to the monetary policy outlook but strongly reaffirmed his commitment to the Fed's mandates while offering little guidance on the timing of rate changes."The Fed's price-stability objective of 2%, as measured by the personal consumption expenditures price index, is a firm, fixed target," Warsh said. "Let's be equally clear about another aspect of the objective: Price stability is not self-executing, nor is inflation necessarily mean-reverting. It is the Fed's job to deliver stable prices."US Treasury yields rose. The 10-year yield climbed 5.4 basis points to 4.73%, and the two-year soared 12 basis points to 4.35%.Mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, with Tehran agreeing to draw up a list of conditions to restore normal traffic after a Qatari emissary pressed the Iranians to respect freedom of navigation, Reuters reported.With the US having disengaged from talks in favour of an economic pressure campaign, the prime minister of Qatar, a US ally, met senior Iranian leaders in Tehran on Thursday, stressing the importance of returning to the pre-war status of open shipping through an international waterway, the news report said.The front-month US West Texas Intermediate crude oil contract slipped 0.1% to $83.44 per barrel, and global benchmark North Sea Brent edged down 0.4% to $89.31 per barrel.In economic news, the University of Michigan consumer sentiment index was revised upward on Friday to 51.7 for August from 51.0 in the preliminary estimate, compared with expectations of no revision in a survey compiled by Bloomberg. That was still below the final reading of 55.2 in July. Respondents expected a 4% inflation rate over the next year, down from 4.2% in July and 3.3% annual inflation over the next five years, the same as in July.

Update: US Equity Indexes Fall, Treasury Yields Jump After Warsh Reiterates Inflation Commitment

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes fell, while government bond yields advanced after Federal Reserve Chairman Kevin Warsh said inflation is the more concerning part of the central bank's dual mandate, recommitting to the 2% inflation goal.The Nasdaq Composite fell 0.6% to 26,381.5, and the S&P 500 slipped 0.3% to 7,706.2 ahead of Friday's close. The Dow Jones Industrial Average declined 0.1% to 53,533.2.Speaking at the annual Jackson Hole Economic Policy Symposium, Warsh, as expected, did not offer any change to the monetary policy outlook but strongly reaffirmed his commitment to the Fed's mandates while offering little guidance on the timing of rate changes."The Fed's price-stability objective of 2%, as measured by the personal consumption expenditures price index, is a firm, fixed target," Warsh said. "Let's be equally clear about another aspect of the objective: Price stability is not self-executing, nor is inflation necessarily mean-reverting. It is the Fed's job to deliver stable prices."US Treasury yields rose after midday. The 10-year yield climbed 4.8basis points to 4.72%, and the two-year soared 11.3 basis points to 4.35%.Mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, with Tehran agreeing to draw up a list of conditions to restore normal traffic after a Qatari emissary pressed the Iranians to respect freedom of navigation, Reuters reported. With the US having disengaged from talks in favour of an economic pressure campaign, the prime minister of Qatar, a US ally, met senior Iranian leaders in Tehran on Thursday, stressing the importance of returning to the pre-war status of open shipping through an international waterway, the news report said.With the US having disengaged from talks in favour of an economic pressure campaign, the prime minister of Qatar, a US ally, met senior Iranian leaders in Tehran on Thursday, stressing the importance of returning to the pre-war status of open shipping through an international waterway, the news report said.The front-month US West Texas Intermediate crude oil contract slipped 0.4% to $83.16 per barrel, and global benchmark North Sea Brent edged down 0.4% to $89.37 per barrel.In economic news, the University of Michigan consumer sentiment index was revised upward on Friday to 51.7 for August from 51.0 in the preliminary estimate, compared with expectations of no revision in a survey compiled by Bloomberg. That was still below the final reading of 55.2 in July. Respondents expected a 4% inflation rate over the next year, down from 4.2% in July and 3.3% annual inflation over the next five years, the same as in July.

Update: US Equity Indexes Trade Mixed, Treasury Yields Jump After Warsh Reiterates Inflation Commitment

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes traded mixed, while government bond yields advanced after Federal Reserve Chairman Kevin Warsh said inflation is the more concerning part of the central bank's dual mandate, recommitting to the 2% inflation goal.The Nasdaq Composite fell 0.4% to 26,444.1, and the S&P 500 slipped 0.1% to 7,722.2 after midday Friday. The Dow Jones Industrial Average rose less than 0.1% to 53,580.2.Speaking at the annual Jackson Hole Economic Policy Symposium, Warsh, as expected, did not offer any change to the monetary policy outlook but strongly reaffirmed his commitment to the Fed's mandates while offering little guidance on the timing of rate changes."The Fed's price-stability objective of 2%, as measured by the personal consumption expenditures price index, is a firm, fixed target," Warsh said. "Let's be equally clear about another aspect of the objective: Price stability is not self-executing, nor is inflation necessarily mean-reverting. It is the Fed's job to deliver stable prices."US Treasury yields rose after midday. The 10-year yield climbed five basis points to 4.72%, and the two-year soared 10.5 basis points to 4.34%.Meanwhile, mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, with Tehran agreeing to draw up a list of conditions to restore normal traffic after a Qatari emissary pressed the Iranians to respect freedom of navigation, Reuters reported.The front-month US West Texas Intermediate crude oil contract slipped 0.4% to $83.20 per barrel, and global benchmark North Sea Brent edged down 0.4% to $89.35 per barrel.

US Equity Futures Mostly Flat Pre-Bell as Traders Await Fed Chair's Keynote Speech

US equity futures were mostly flat pre-bell Friday as traders awaited a highly anticipated keynote speech from Federal Reserve Chair Kevin Warsh.Dow Jones Industrial Average and S&P 500 futures were flat, while Nasdaq futures were 0.2% lower.Warsh is slated to speak at 10 am ET at the central bank's annual symposium in Jackson Hole, Wyoming, and traders will be looking for signals on where interest rates could go next.President Donald Trump on Thursday told reporters that the US is not talking to Iran. The US has turned to elevated economic pressure to force a reopening of the Strait of Hormuz and threatened Iran's trading partners. Iran's foreign ministry, in a letter published on Telegram, urged other countries not to implement US sanctions against it, calling the measures illegal.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.4% at $88.19 per barrel and US West Texas Intermediate crude 0.5% lower at $83.13 per barrel.The Chicago purchasing managers index for August, due at 9:45 am ET, is seen coming in at 57.9, up from its prior value of 57.6, according to estimates compiled by Bloomberg.The final University of Michigan consumer sentiment report for August, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 51.0, unchanged from the prior period.

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US Equity Markets End Higher After Technology Sector Gains Following Nvidia Results

US equity indexes ended higher Thursday after the technology sector saw gains led by Nvidia's (NVDA) Q2 results.* Nvidia shares were up about 8.7%, among the top gainers across all three main indexes, after fiscal Q2 earnings and revenue more than doubled from a year earlier, and Q3 sales outlook beat estimates.* Qatar's foreign ministry said it is in discussions with Iran over an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," Al Jazeera reported.* US initial jobless claims fell to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 in the previous week, in contrast with expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg.* October West Texas Intermediate crude oil rose $1.44 to settle at $83.67 per barrel, while October Brent crude, the global benchmark, was last seen up $1.90 at $89.74.* Salesforce (CRM) shares were up roughly 23%, the top gainer on the S&P 500 and the Dow, after the company reported higher fiscal Q2 adjusted earnings and revenue, and lifted its fiscal 2027 outlook.* Hormel Foods (HRL) shares were down nearly 10%, the worst performer on the S&P 500, after the company lowered its fiscal 2026 sales outlook and reported mixed Q3 results with sales falling amid soft consumer demand.

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Update: Technology Pushes US Equity Indexes Higher Following Nvidia's Blockbuster Guidance

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes advanced after Nvidia's (NVDA) strong fiscal Q2 results boosted mega-caps in the technology sector.The Nasdaq Composite jumped 1.3% to 26,466.9, the S&P 500 climbed 0.6% to 7,719.3, and the Dow Jones Industrial Average edged up 0.1% to 53,542.5 ahead of Thursday's close. All sectors, except technology, declined. Consumer staples and consumer discretionary were among the worst performers.Shares of Nvidia jumped past 8%, among the top gainers across all three mainstream indexes, after fiscal Q2 earnings and revenue more than doubled from a year earlier and Q3 sales outlook beat estimates. Nvidia offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note.Salesforce (CRM) surged 23%, the leader on the S&P 500 and the Dow, after the company posted higher fiscal Q2 adjusted earnings and sales, and lifted fiscal 2027 guidance.CrowdStrike (CRWD) soared 20%, one of the biggest gainers in the S&P 500 and Nasdaq, after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its full-year net new annual recurring revenue outlook. This is a "blowout quarter as AI demand inflects across the platform," according to a Truist Securities note.Qatar's foreign ministry said Iran and Doha discussed an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," according to a report from Al Jazeera, a Middle Eastern broadcaster.Iran's security chief, Mohsen Rezaei, said the "US must first take practical steps to fulfil Iran's conditions, and then Iran will proceed to open the Strait of Hormuz", Al Jazeera cited a report from the Islamic Republic News Agency. The former Islamic Revolutionary Guard Corps commander reiterated previous pledges by Tehran that if Washington "starts any evil", Iran would "bring disaster to its military and economic interests".The front-month US West Texas Intermediate crude oil contract climbed 2.1% to $83.93 per barrel, and global benchmark North Sea Brent jumped 2.6% to $90.11 per barrel.

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Update: Technology Lifts US Equity Indexes After Nvidia's Blowout Quarterly Results

(Updates with index/price moves and company/geopolitical news from the first paragraph.)US equity indexes rose after Nvidia's (NVDA) strong fiscal Q2 results helped boost the technology sector.The Nasdaq Composite jumped 1.34% to 26,477.8, the S&P 500 climbed 0.6% to 7,722.09, and the Dow Jones Industrial Average advanced 0.3% to 53,614 after midday Thursday.Shares of Nvidia jumped 8.9%, among the top gainers across all three mainstream indexes, after the company posted fiscal Q2 earnings and revenue that more than doubled from a year earlier, and issued a fiscal Q3 revenue forecast above analysts' expectations.Nvidia offered a surprisingly strong fiscal 2028 revenue outlook, while its gross margin guidance provided clarity amid rising memory costs, Morgan Stanley said in a note.CrowdStrike (CRWD) soared 17%, also one of the biggest gainers on the three indexes, after the company reported higher fiscal Q2 adjusted earnings and revenue, and raised its fiscal 2027 revenue outlook.Among companies with market capitalizations exceeding $200 billion each, all top 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those 10 firms, almost all were from either the software or semiconductor industries.In the Middle East, about 6 million to 8 million barrels a day of crude oil are now being shipped through the Strait of Hormuz, Bloomberg reported, citing estimates from traders monitoring cargo activity. Flows slipped in July, when an onslaught of Iran's attacks on supertankers led to the breakdown of an interim ceasefire agreement between Washington and Tehran and heightened risks to navigation, the news report said, adding that flows remain at roughly half prewar levels.Qatar's Foreign Ministry said Iran and Qatar discussed an agreement to implement a "joint project" to clear mines from the Strait of Hormuz as well as "efforts to reduce escalation and create appropriate conditions for dialogue," according to a report from Al Jazeera, a Middle Eastern broadcaster.The front-month US West Texas Intermediate crude oil contract climbed 0.5% to $82.61 per barrel, and global benchmark North Sea Brent jumped 1% to $88.77 per barrel.

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Nvidia Results, Semiconductor Rally Lift US Equity Futures Pre-Bell

US equity futures were mostly higher pre-bell Thursday as Nvidia's (NVDA) earnings and an upswing in semiconductor-related stocks lifted market sentiment.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.9% higher.Nvidia was up 5.9% after the company reported fiscal Q2 earnings and revenue late Wednesday that more than doubled from a year ago.The Trump administration is considering sweeping new tariffs on semiconductors that could extend to products containing chips, including laptops, gaming consoles and data center servers, Politico reported, citing unnamed sources familiar with the matter.Marvell Technology (MRVL) is expected to report its fiscal Q2 earnings after the market closes. Analysts polled by FactSet expect adjusted earnings of $0.93 per share on revenue of $2.72 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.6% at $87.47 per barrel and US West Texas Intermediate crude 0.4% higher at $82.59 per barrel.The international trade in goods report for July, scheduled for release at 8:30 am ET, is expected to show the deficit narrowing to $100.5 billion from the revised value of $101.4 billion in the prior month, according to estimates compiled by Bloomberg. Initial jobless claims are projected to have increased to 208,000 in the week ended Aug. 22 from 206,000 in the previous week.The Federal Reserve's annual three-day Economic Policy Symposium in Wyoming begins in the morning, with Fed Chief Kevin Warsh slated to deliver keynote remarks on Friday.

Japanese Stocks Climb at Open on Bullish AI Investment Outlook

Japanese equities opened higher today as optimism on tech investment rose following Nvidia Corp.'s bullish sales outlook.The Nikkei 225 opened 513 points or 0.7% higher at 66,775.78.Brent crude slipped to around $87 a barrel amid progressing talks in the Middle East against rising Russia-Ukraine tensions.In other reports, BOJ Deputy Governor Ryozo Himino signalled willingness to raise interest rates as early as next month, offering no clear resistance to market bets on such a move.Speaking to local business leaders in Saitama on Thursday, Himino warned that a sustained overshoot of the 2% inflation target would hurt the economy.

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US Equity Markets End Lower as Bond Yields Rise After July's Inflation Rate Accelerates

US equity indexes ended lower Wednesday as most government bond yields rose after the Federal Reserve's preferred inflation gauge rose and investors awaited Nvidia's (NVDA) quarterly earnings.* The personal consumption expenditure price index rose by 0.2%, following a 0.1% decline in June, the Bureau of Economic Analysis said Wednesday. That's above the consensus for a 0.1% gain in a Bloomberg-compiled survey.* The Fed's preferred core measure, which excludes food and energy, climbed 0.2% in July, as expected. That's faster than the June print of 0.1%. The annual core gauge held steady at 3.3%, as projected.* US economic growth, measured by gross domestic product, rose by 1.5% in Q2, unrevised from the advance estimate released last month, as expected in a survey compiled by Bloomberg. GDP rose by 2.1% in Q1.* October West Texas Intermediate crude oil fell $0.40 to settle at $81.96 per barrel, while October Brent crude, the global benchmark, was last seen down $1.13 at $87.45.* Western Digital (WDC) shares were up roughly 4%, the second-best performer on the Nasdaq, after the company said Wednesday it executed private transactions to swap roughly $191 million of its 3% convertible senior notes maturing in 2028 for a mix of cash and stock.* GoDaddy (GDDY) shares were down about 4.3%, the third-worst performer on the S&P 500, after Wells Fargo downgraded the stock to underweight from equalweight and lowered its price target to $76 per share from $80.

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Update: US Equity Indexes Trade Mixed in Final Leg as Investors Await Nvidia's Earnings

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes traded mixed while most government bond yields rose after the Federal Reserve's preferred inflation gauge accelerated in July and as investors awaited AI bellwether Nvidia's (NVDA) quarterly earnings.The Dow Jones Industrial Average edged 0.1% lower to 53,501.1 ahead of Wednesday's close. The S&P 500 clawed up 0.1% to 7,684.1, and the Nasdaq Composite was steady at 26,157.8.In economic news, the headline personal consumption expenditure price index rose by 0.2%, following a 0.1% decline in June, the Bureau of Economic Analysis reported Wednesday. That's above the consensus for a 0.1% gain in a Bloomberg-compiled survey, keeping the annual headline rate at 3.7%, which also exceeded the expected 3.6% print.The Fed's preferred core measure, which excludes food and energy, climbed 0.2% in July, as expected. That's faster than the June print of 0.1%. The annual core gauge held steady at 3.3%, as projected.Most US Treasury yields rose, with the 10-year yield up 2.1 basis points to 4.66% and the two-year climbed two basis points to 4.22%.In geopolitical news, the Iranian military said it reached a revenue-sharing deal with Oman on the Strait of Hormuz, Bloomberg reported. "Agreements have been reached regarding each country's share of the strait's waters as well as Iran and Oman's share of its revenues," Bloomberg cited the Islamic Revolutionary Guard Corps' spokesman Hossein Mohebbi on the state-run Sepah News agency.However, Reuters cited the IRGC as saying the strait would not open unless the US met Tehran's conditions under an interim ceasefire agreement that was struck in June before unravelling. Those conditions include an end to the US blockade on Iranian ports, compensation and removal of sanctions, the news outlet said."We have our own tools, and we also know the game," Iran's Economy Minister Ali Madanizadeh said while referring to Tehran's experience circumventing US sanctions, according to a report from Al Jazeera, a Middle Eastern broadcaster. Tehran could potentially "go on the offensive" and was confident that many countries would effectively reject US President Donald Trump's threats to cut off all links with Iran, he added.The front-month US West Texas Intermediate crude oil contract slipped 0.5% to $81.96 per barrel, and global benchmark North Sea Brent declined 1.3% to $87.45 per barrel.

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Update: US Equity Indexes Decline After July PCE Inflation Rate Rises

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes fell while most government bond yields rose after the Federal Reserve's preferred inflation gauge accelerated sequentially in July and as investors awaited Nvidia's (NVDA) quarterly earnings post-bell.The Nasdaq Composite slipped 0.2% to 26,101.2, the Dow Jones Industrial Average fell 0.3% to 53,439.5 and the S&P 500 edged 0.1% lower to 7,667.3 after midday Wednesday. Energy and industrials topped gainers while consumer discretionary and communication services led decliners.In economic news, the headline personal consumption expenditure price index rose by 0.2% in July, following a 0.1% decline in the prior month, the Bureau of Economic Analysis reported Wednesday. That's above the consensus for a 0.1% gain in a Bloomberg-compiled survey, keeping the annual headline rate at 3.7%, which also exceeded the expected 3.6% print.The Fed's preferred core measure, which excludes food and energy, climbed 0.2%, as expected. That's faster than the June print of 0.1%. The annual core gauge held steady at 3.3%, as projected.Most US Treasury yields rose. The 10-year yield rose 1.5 basis points to 4.65% and the two-year climbed 1.2 basis points to 4.22%.The Iranian military said it reached a revenue-sharing deal with Oman on the Strait of Hormuz, Bloomberg reported."Agreements have been reached regarding each country's share of the strait's waters as well as Iran and Oman's share of its revenues," Bloomberg cited the Islamic Revolutionary Guard Corps' spokesman Hossein Mohebbi on Wednesday as telling the state-run Sepah News agency.The front-month US West Texas Intermediate crude oil contract gained 0.9% to $83.08 per barrel, and global benchmark North Sea Brent rose 0.5% to $89.05 per barrel.