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US stock futures leaned higher on Tuesday, while oil prices fell after President Trump signaled openness to further talks with Iran, stoking optimism for a long-term truce.
Futures on the S&P 500 (ES=F) and the Dow Jones Industrial Average (YM=F) rose roughly 0.2%. Meanwhile, those on the Nasdaq 100 (NQ=F) gained 0.4% after stocks on Wall Street eked out small wins on Monday.
Washington and Tehran are considering further negotiations to extend their current two-week ceasefire, even with the US naval blockade on Iran’s energy ports now in place. Trump said on Monday that “the right people” — interpreted as Iran — have reached out “to work out a deal.”
Optimism that the April 7 truce can be re-upped before it expires next week have added to already growing hopes for longer-lasting peace deal, which on Monday helped the S&P 500 (^GSPC) effectively wipe out losses accumulated since the start of the conflict.
Against that backdrop, oil prices dropped back below $100 a barrel, but with investors watching for signs of traffic through the Strait of Hormuz. West Texas Intermediate (CL=F) crude fell 2.5% to trade below $97 per barrel, while Brent (BZ=F) crude shed 1 % to around $98.
Looking ahead, attention turns to earnings season. Major banks including Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), JPMorgan Chase (JPM), and Morgan Stanley (MS) all report this week, offering key insight into the health of the financial sector.
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Wegovy-maker Novo Nordisk partners with OpenAI to speed drug development
Novo Nordisk (NVO) said on Tuesday it is partnering with OpenAI (OPAI.PVT) to deploy artificial intelligence across its business, from drug discovery to manufacturing and commercial operations.
Shares of the Danish drugmaker rose 2.6% in premarket trading, as investors weighed prospects for Novo, which has fallen behind Eli Lilly in the immensely lucrative weight-loss drug market,
Reuters reports:
Novo is seeking new ways to regain ground in an intensifying obesity-drug battle with Indianapolis-based Lilly, which this month won US approval for its weight-loss pill Foundayo after Novo launched oral Wegovy in January. Analysts expect annual revenue from weight-loss drugs to exceed $100 billion in the next decade.
Novo did not disclose financial terms of the agreement. It said pilot programmes would begin across research and development, manufacturing and commercial operations, with full integration planned by the end of 2026.
Novo said OpenAI will also help train its global workforce, increasing AI literacy and boosting productivity across departments.
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Chinese stocks fall after run protected from Iran instability
Chinese stocks have pulled back after a bolstered rise against global downturn driven by the Iran war.
Bloomberg reports:
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Oil falls as Iran and the US open the door to negotiations
Bloomberg reports:
