Dow Jones Top Markets Headlines at 3 AM ET: U.S. Stocks Jump as Bessent Says Iran Deal May Be Days Away | Hormuz ...

U.S. stocks jumped early as Treasury Secretary Scott Bessent said the U.S. could reach a deal with Iran to reopen the Strait of Hormuz “today or tomorrow,” sending oil down sharply after the comment. The outlook for the strait remained uncertain after a ship passing through Hormuz was struck while talks continued. In parallel, Kansas City Fed President Jeff Schmid said the Fed’s inflation challenge isn’t only about energy and warned tighter policy is needed to hit the 2% goal. India’s central bank held rates steady amid heightened risks from the Middle East conflict. Other headlines covered White House AI guidelines exempting some U.S. open models from government review and multiple market and macro updates, including a weaker June trade deficit.