Market Talks covering the impact of U.S. Politics and White House policies on companies and markets. Published exclusively on Dow Jones Newswires throughout the day.
0706 ET - Investor sentiment has improved as markets assess the possibility of further de-escalation between the U.S. and Iran, whether through a broader agreement or an extension of the ceasefire, Columbia Threadneedle Investments' Anthony Willis says in a note. The move lower in oil prices "indicates that markets are placing greater weight on a scenario in which immediate supply risks begin to recede," the senior economist says. This matters for broader markets because lower oil prices reduce the risk that the conflict has on inflation or growth expectations, he says. "For now, markets appear willing to look through near-term headline volatility, reflecting a view that both sides may be moving towards a more durable framework," Willis says. (emese.bartha@wsj.com)
0703 ET - Copper prices rise ahead of a key U.S. tariff decision this month, with LME futures up 0.6% to $13,964.50 a metric ton. The U.S. is expected to make a decision on whether to extend import tariffs to refined copper. Last year, anticipation of such tariffs drove copper prices on the LME higher as U.S. buyers increased their copper stockpiles ahead of potential trade restrictions, tightening supply outside the country and supporting prices. "In anticipation of the decision, inventories on COMEX are already rising again, while LME stocks are noticeably declining," says Commerzbank's Thu Lan Nguyen. "This trend could intensify in the coming weeks." (giulia.petroni@wsj.com)
0349 ET - Yields on U.K. government bonds, or gilts, fall as investors expect an agreement between the U.S. and Iran could be reached in June, ending the closure of the Strait of Hormuz and easing the energy supply shock. U.S. President Trump said on Monday that Israel and Hezbollah had agreed to stop fighting while oil prices fall. "The market's default baseline still seems to be that a deal is coming and that traffic through the Strait of Hormuz will eventually normalise," Tickmill Group's Patrick Munnelly says in a note. Ten-year gilt yields fall 5.8 basis points to 4.841%, Tradeweb data show. (miriam.mukuru@wsj.com)
0332 ET - European natural-gas prices fall after President Trump said negotiations with Iran were continuing at a rapid pace, though uncertainty about whether the two sides can ultimately reach an agreement is limiting losses. "The longer this continues, the more likely Asian buyers will need to enter the spot market to cover disrupted contracted volumes," ING analysts say. If that happens, Europe would face increased competition for LNG cargoes just as its gas-storage facilities are only about 40% full, well below the five-year average of 54%. At the same time, the current backwardation in the gas market--when front-month prices trade above winter contracts--is providing little economic incentive for traders and utilities to inject additional gas into storage ahead of winter. In early trading, the benchmark Dutch TTF contract is down 1.8% to 48.20 euros a megawatt-hour. (giulia.petroni@wsj.com)
0250 ET - The dollar eases after Lebanon announced a partial ceasefire between Iran-backed Hezbollah and Israel. The Lebanese embassy in the U.S. said it received confirmation of Hezbollah's acceptance of a U.S. proposal for it to halt attacks on Israel and for Israel to refrain from strikes on the Lebanese capital Beirut. The news comes after Iran's Tasnim news agency reported that Iran could suspend back-channel negotiations with the U.S. due to Israel's attacks on Lebanon. However, people familiar with the familiar with the talks told The Wall Street Journal the report wasn't true. The DXY dollar index falls 0.1% to 99.087. (renae.dyer@wsj.com)
0150 ET - U.S. Treasury yields fall in Asian trade with prospects of a U.S.-Iran deal remaining in place despite fresh escalation between the U.S. and Iran on Monday. The fall in Treasury yields is led by the long end of the curve. The 10-year Treasury yield falls 4.4 bps to 4.433% and the 30-year yield falls 3.8 bps to 4.953%, according to Tradeweb. (emese.bartha@wsj.com)
2240 ET - Copper and aluminum rise in early Asian trade. President Trump has signed a proclamation adjusting certain metals tariffs to more effectively address national security threats, the White House said. Foreign companies that use more U.S. steel and aluminum can qualify for a 10% duty rate, if their capital equipment includes at least 85% of U.S. melted and poured or smelted and cast steel or aluminum by weight, it said. The premium for copper in the U.S. has also risen again, ANZ Research analysts say in a note. "This could see renewed flows of the metal to U.S. ports just as supply side issues mount in the market," they add. The three-month copper contract on the LME is up 0.3% at $13,877.00 a metric ton, while aluminum is 1.1% higher.(amanda.lee@wsj.com)
1937 ET - Oil edges higher in early trade. President Trump on Monday aimed to quell a growing conflict between Israel and Hezbollah that threatened to derail U.S. peace talks with Iran. Trump declared that both sides had agreed to halt fighting and that Israeli PM Netanyahu had called off attacks in Lebanon. However, there's an absence of a clear breakthrough in the U.S.-Iran negotiations and renewed incidents in the Middle East, Tickmill's Joseph Dahrieh says in an email. These reinforce worries that restrictions affecting the Strait of Hormuz could stay intact for longer than expected, which keeps oil prices elevated, the managing director adds. Front-month WTI crude oil futures are 0.2% higher at $92.31 per barrel. (ronnie.harui@wsj.com)
1546 ET - Treasury yields and the dollar pare down increases fuelled by reports that Iran is halting peace talks, after President Trump says negotiations are ongoing. Moves on bond and FX markets closely follow oil futures, as investors link energy prices to inflation and the possibility of high interest rates in the U.S. May U.S. PMI ticks higher and markets focus on the JOLTS report, due tomorrow. The WSJ Dollar Index rises 0.2%. The 10-year yield rises 0.022 percentage point to 4.475% and the two-year adds 0.038 p.p. to 4.051%, both off intraday highs. (paulo.trevisani@wsj.com; @ptrevisani)
1353 ET [Dow Jones]--Oil futures pull back from highs as President Trump says Israel and Iran-backed Hezbollah have agreed to stop fighting and that Israel won't be sending troops to Beirut. Trump says he spoke with Israeli Prime Minister Benjamin Netanyahu and to Hezbollah through representatives. "Israel will not attack them, and they will not attack Israel," he posts on Truth Social. Oil prices spiked after Iranian media said Iran was halting talks to protest Israeli attacks in Lebanon. "Talks are continuing, at a rapid pace, with the Islamic Republic of Iran," Trump adds in a separate post. WTI is up 4.9% at $91.64 a barrel after hitting $94.78 earlier. Brent is up 4% at $94.78. (anthony.harrup@wsj.com)
0959 ET - Eurozone government bond and U.K. gilt yields jump on a report that Iran halts talks with the U.S. in protest at Israel attacking Lebanon. Iran's Tasnim news agency says on X that Iran will halt the exchange of talks and messages through the intermediary with the U.S. The 10-year German Bund yield rises 8.3 basis points to 3.012%; the French 10-year OAT yield is up 10 basis points at 3.636%; the 10-year Italian BTP yield jumps 11 basis points to 3.750%; and the 10-year gilt yield is up 8.2 basis points at 4.889%, according to Tradeweb. (emese.bartha@wsj.com)
0955 ET - Crude futures extend gains on a report that Iran is halting talks with the U.S. through mediators in protest against Israeli attacks in Lebanon. Prices were higher after the U.S. and Iran exchanged strikes at the weekend, while efforts toward an agreement continued. Iran's Tasnim news agency says on X that due to "continued Israeli airstrikes in Lebanon, and given that Lebanon was part of the preconditions for the ceasefire, Iran will halt the exchange of talks and messages through the intermediary with the United States." WTI is up 6.5% at $93.03 a barrel and Brent gains 5.5% at $96.13. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
June 02, 2026 07:07 ET (11:07 GMT)
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