US stocks near record high, oil falls as Trump claims Iran talks under way

What the report says

US financial markets moved sharply higher on Monday, with the S&P 500 coming within reach of its closing record and the Dow Jones Industrial Average setting a new high, while Brent crude oil fell before recovering some ground in Asia trading. The rally was led by large technology companies, including Meta, Microsoft, Amazon, Alphabet, Nvidia and Tesla, as investors reacted to a mix of market momentum and geopolitical uncertainty.

According to Al Jazeera, the market moves were linked to conflicting statements from Washington and Tehran about possible Iran talks. US President Donald Trump said negotiations with Iran were underway and said he wanted to give Tehran more time to reach an agreement before any renewed strikes. He had also said the day before that planned attacks had been halted after discussions with Gulf leaders.

Iran’s foreign ministry spokesperson, Esmaeil Baghaei, gave a different account, saying Tehran was not in talks with Washington and had no meetings with US officials scheduled. He said discussions with Oman were focused on transit through the Strait of Hormuz and that broader US-Iran issues would be handled later. The contrasting messages mattered because they came as markets were responding to the possibility of a de-escalation in tensions that could affect energy supplies and investor sentiment.