U.S.–Iran Tensions Lift Oil And Drive Up Argentina’s Risk

Investors are watching planned U.S.–Iran talks in Islamabad to gauge the next move.

Overview

President Trump said he would extend a ceasefire with Iran as both sides prepare to meet in Islamabad.
Oil prices rose after reports that Iran’s Revolutionary Guard seized ships in the Strait of Hormuz, with WTI near $95.1 and Brent about $100.2 per barrel.
The S&P 500 and Nasdaq closed at record highs, while the Dow slipped on the day as traders balanced war risks with strong tech earnings.
Argentina’s country risk index, a J.P. Morgan measure of default risk, climbed to about 559 basis points as sovereign bonds declined.
Fresh INDEC data showed Argentina’s monthly activity fell 2.6% in February from January, adding strain to stocks and dollar bonds.