Stock Market Today: Dow Slips, Oil Pares Gains as Investors Cling to Hope of Mideast Deal — Live Updates

Investors seem to be seizing on hopes that a U.S.-Iran deal is in reach.

Oil prices had been rising this morning after another round of U.S. military strikes against Iran. They pared gains after Axios reported that an agreement between the two countries had been reached pending approval from President Trump, citing U.S. offiicials.

We’ve been here before: Headlines on the negotiations have moved markets several times in recent days, as investors eagerly watch for any sign of progress.

The most actively traded Brent crude futures trade at around $93 a barrel, while U.S. stocks are mixed.

Meanwhile, shares of Snowflake are surging nearly 35% after the cloud-software company’s results dispelled fears that AI would cannibalize its business. That puts the stock on course to erase losses suffered during a SaaSpocalypse meltdown that sent it and its peers tumbling this year.