Market Highlights

A rebound in oil drove stocks lower as traders awaited confirmation that Iran will join the US in peace talks before a ceasefire expires, with the two sides still at odds on key issues. Equities wiped out an advance that had earlier put the S&P 500 on pace for a record. The New York Times reported that Vice President JD Vance’s trip to Islamabad has been put on hold after Tehran failed to respond to US negotiating positions. Brent hovered near $98. Treasury yields rose alongside the dollar. US equity-index futures climbed and oil dropped after President Donald Trump said he would extend the ceasefire with Iran, spurring cautious optimism among investors.