Stocks Waver as Traders Await Iran Deal, Jobs Data: Markets Wrap

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessStocks Waver as Traders Await Iran Deal, Jobs Data: Markets WrapStocks were broadly flat amid weakness in the technology sector, while investors are awaiting developments in US-Iran talks and looking ahead to key US jobs data Friday.Author of the article:Anand Krishnamoorthy and Robert Brand You can save this article by registering for free here. Or sign-in if you have an account.A graph showing the price of Bitcoin against the South Korean won displayed at the Upbit customer lounge in Seoul, South Korea, on Friday, Jan. 2, 2026. The world's 500 richest people added a record $2.2 trillion to their collective fortunes in 2025, as booming markets in everything from equities to cryptocurrencies to precious metals sent the value of their holdings soaring, according to the Bloomberg Billionaires Index. Photographer: SeongJoon Cho/Bloomberg Photo by SeongJoon Cho /Bloomberg(Bloomberg) — Stocks were broadly flat amid weakness in the technology sector, while investors are awaiting developments in US-Iran talks and looking ahead to key US jobs data Friday.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountS&P 500 futures edged 0.1% higher, while Nasdaq 100 contracts slipped 0.2%. Memory maker Sandisk Corp. slid 8% in post-market trading, while rival Western Digital Corp. plunged 12% after both companies reported earnings. Attention is also on the $101 billion of SpaceX shares becoming available for trading Thursday, after the company’s first quarterly earnings report since its listing triggered a 13% slide.The pause in the tech-led rally comes as investors reassess valuations after AI-related shares rebounded from last month’s selloff. Traders are also focused on Friday’s US non-farm payrolls data, which is expected to show a strengthening jobs market, as they look for clues on the Federal reserve’s policy path.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againMeanwhile, Brent crude held below $80 per barrel after Iran said it reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz, raising the prospect of energy flows resuming through the critical waterway. But a lasting US-Iran deal that would help ease inflation and upward pressure on Treasury yields remains elusive, with President Donald Trump saying on Wednesday he would “see what happens” in ongoing negotiations.“Until a more positive development in the Middle East is confirmed, and ahead of tomorrow’s important US employment data, markets have taken a wait-and-see stance,” said Karl Steiner, head of analysis at SEB. “This is reflected in the stock market development, a fairly unchanged oil price and small movements in the US 10-year Treasury yield.”The Stoxx Europe 600 index rose 0.2%. Deutsche Telekom AG, Europe’s biggest phone carrier, jumped more than 5% after raising its share buyback program. Siemens AG plunged after reporting third-quarter results. Germany’s DAX edged higher after factory orders rose by more than analysts forecast in June, another sign that a long-awaited recovery in Europe’s biggest economy may finally be taking hold.In other earnings news in Europe:Wizz Air Holdings Plc fell after reporting a quarterly loss and warning of continued challenges.Swiss Re AG’s first-half profit beat estimates as the re-insurer saw all key business units perform in line with targets, while the firm announced a fresh round of cost cuts.WPP Plc soared after first-half profits beat analysts’ estimates, driven by the advertising agency’s cost-cutting efforts in a sluggish market.Rheinmetall AG cut its sales forecast for this year as Germany’s biggest defense company deals with the fallout of losing a German naval contract worth several billion euros.Commerzbank AG unveiled a fresh share buyback after reporting net income ahead of analysts’ expectations in the three months through June.Nordic Semiconductor ASA reported third-quarter revenue head of analysts’ estimates.Zurich Insurance Group AG reported a 13% gain in profit for the first half of 2026 as it saw accelerating demand across all businesses, boosted by global data center and energy infrastructure demand.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.The semiconductor sector was also the focus in Asia as Korea’s Kospi Index — a bellwether for the artificial intelligence trade — fell 4.8% with SK Hynix Inc. and Samsung Electronics Co. leading losses.“Investors are increasingly asking what incremental catalysts are needed to remain in the Asia memory trade,” said Gary Tan, a portfolio manager at Allspring Global Investments.Elsewhere, gold rose 0.4% to $4,265 an ounce on expectations that a reopening of the Strait of Hormuz and lower oil prices would ease pressure on the Federal Reserve to increase interest rates, which typically lessens the appeal of non-yielding bullion. Brent fell 0.3% to about $79.20 a barrel after Iran said it had reached an agreement with Oman on a proposed shipping route through the strait, a potential step toward reopening the waterway.What Bloomberg Strategists Say…“Investors are likely to view the losses in Korea and Japan with only modest concern. The recovery in US futures suggests Wall Street may be on firmer footing when cash trading begins later Thursday.”— Mark Cranfield, MLIV Strategist. For full analysis, click here. Chipmakers have had a volatile month as even robust earnings from companies failed to impress investors, sending shares plunging. Dip buyers then emerged to offer a reprieve.The MSCI World Semiconductor Index had tumbled more than 20% from its peak in June, driven by worries around the sustainability of the AI spending boom and progress in China’s advanced chipmaking. The gauge has rebounded around 15% since then.A Bloomberg gauge of the dollar held its losses from the previous session, while Treasuries steadied with the yield on the benchmark 10-year holding at 4.61%.Meanwhile, global bond and currency investors are debating if it’s time to dust off last year’s “Sell America” trade after a flurry of economic-policy decisions out of Washington over the past two weeks.DeepSeek plans to implement a significant price increase across its AI services, an unusual shift from the disruptive Chinese player.Meta Platforms Inc. said one of its AI models accessed the internet and hacked into an outside service’s systems during cybersecurity testing.Some of the main moves in markets:The Stoxx Europe 600 rose 0.4% as of 8:26 a.m. London timeS&P 500 futures rose 0.1%Nasdaq 100 futures fell 0.3%Futures on the Dow Jones Industrial Average rose 0.3%The MSCI Asia Pacific Index fell 1.2%The MSCI Emerging Markets Index fell 1.7%The Bloomberg Dollar Spot Index was little changedThe euro was little changed at $1.1544The Japanese yen was little changed at 157.76 per dollarThe offshore yuan was little changed at 6.7505 per dollarThe British pound was little changed at $1.3462Bitcoin rose 0.1% to $64,858.36Ether fell 0.2% to $1,911.09The yield on 10-year Treasuries was little changed at 4.62%Germany’s 10-year yield was little changed at 3.11%Britain’s 10-year yield was little changed at 4.89%Brent crude rose 0.3% to $79.71 a barrelSpot gold rose 0.4% to $4,263.01 an ounceThis story was produced with the assistance of Bloomberg Automation.—With assistance from Matt Turner.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.