US sharemarkets ended mixed on Tuesday, with the S&P 500 edging up 0.08% to close at 6,616.85, while the Nasdaq Composite gained 0.10%. The Dow Jones Industrial Average fell 85 points, or 0.18%.
Markets recovered from earlier losses late in the session, as reports emerged of a proposal to extend the deadline for negotiations. Futures moved higher overnight, with S&P 500 and Nasdaq 100 futures rising around 0.8% to 1%, while Dow futures gained 386 points.
Investor sentiment remains tied to developments around the Strait of Hormuz, with markets responding to any signals of potential de-escalation.
Oil and commodities
Oil prices declined in extended trading after earlier volatility, with West Texas Intermediate crude falling around 4% to just above US$108 a barrel.
Crude had previously risen above US$110 during the session, reflecting ongoing uncertainty around supply disruptions. Gold prices moved higher, rising more than 1% to above US$4,700 an ounce.
Australian Market Outlook
Australian shares are set to open higher, following a late recovery on Wall Street. S&P/ASX 200 futures were up 13 points, or 0.2%, to 8,775.
Locally, investors will be watching global developments alongside scheduled data releases, with the Reserve Bank of New Zealand set to hold a policy meeting.
