Latest / MPC Markets Morning Call
TACO by Proxy. Trump’s Deadline Saved by Pakistan Request
Key Takeaways
US equities reversed early losses to finish near flat — S&P 500 +0.1% to 6,617.74, Nasdaq +0.1% to 22,017.85, Dow -0.2% to 46,584.33 — as Pakistan’s ceasefire request sparked a late-session relief rally.
Pakistan PM Shehbaz Sharif requested Trump extend the Iran Hormuz deadline by two weeks and urged all parties to observe a ceasefire, with Tehran said to be “positively reviewing” the proposal; Trump described the talks as “heated negotiations.”
Brent crude fell 2.1% to $107.48 intraday before sliding further to $104.50 in post-settlement trade; WTI edged down 0.1% to $112.29…
The skinny
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