Bonds & Stocks
US stocks opened higher as optimism grew that the war in the Middle East is nearing a conclusion, pulling Brent briefly below $100 a barrel. Treasuries edged lower while the dollar was on track for a second straight day of declines. The S&P 500 was up 0.6% following its biggest daily advance in May. The yield on 10-year Treasuries was little changed at 4.32%.
Economy
US consumer confidence unexpectedly rose in March on slightly more upbeat views of current business and labor-market conditions. The Conference Board’s gauge increased to 91.8, from a revised 91 reading in February, data out Tuesday showed. The median estimate in a Bloomberg survey of economists called for a reading of 87.9.
World
US President Donald Trump said he’ll only consider a halt to attacks on Iran when the Strait of Hormuz is reopened, sowing further confusion about how long he’s prepared to continue the war.