Stock Market Today: Nasdaq Rises for 10th Day in a Row, Oil Slips Below $100 — Live Markets

The U.S. blockade of the Strait of Hormuz is proving to be no bother to investors.

Oil prices are retreating and global stocks are up after both the U.S. and Iran signaled that they see room to continue talking. Iranian Foreign Minister Abbas Araghchi told his French counterpart that there had been progress in the negotiations on many issues, while President Trump said that the “right people” in Iran still want to make a deal.

Brent crude futures slipped to trade around $96 a barrel while Asian and European stocks rose. U.S. stocks are up, with the Nasdaq composite now extending its winning streak to a 10th day.

Wholesale inflation for March came in cooler than expected this morning, offering an encouraging sign on the impact from the Iran war.

The dollar is down alongside Treasury yields and gold is rising, in a further reversal of trends that had broadly held since the conflict in the Middle East began.

Investors are also parsing earnings from some of America’s biggest banks this morning. Both JPMorgan Chase and Wells Fargo indicated that the economy and consumers remained resilient in the first quarter, despite the war in Iran.