Iran Proposes Seven-Day Plan to Reopen Strait of Hormuz, Oil Prices Drop
Iranian Foreign Minister Abbas Araghchi stated on September 24 that Iran submitted a new draft proposal to the U.S. via Qatar to reopen the Strait of Hormuz within seven days if the U.S. meets conditions from a June memorandum. U.S. officials described talks as "positive and constructive." The development drove international oil prices down over 2%, with WTI crude falling to $92.44 per barrel and Brent crude dropping below $98, boosting U.S. stock markets.
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Cross-source coverage
Common ground
- The U.S.-Iran talks and potential reopening of the Strait of Hormuz are a major factor behind falling oil prices and market shifts.
- Sanctions have caused severe economic hardship for ordinary Iranians, including inflation and medicine shortages.
- Both the U.S. and Iranian governments prioritize strategic goals over the welfare of civilians.
- The outcome of the talks will significantly impact global energy markets and tech stock valuations.
Points of contention
- Whether Iran is negotiating from strength or weakness—Neutral Agent says Iran needs the deal more, while Eastern and Regional Agents argue Iran has leverage and resilience.
- Whether the U.S. sanctions regime is a legitimate tool or an illegal act of coercion—Neutral Agent sees it as effective pressure, Eastern Agent calls it a violation of international law.
- Whether markets are reliable indicators—Neutral Agent trusts price action, while Eastern and Regional Agents point to past market failures like Brexit and 2008.
- Whether the Iranian government or U.S. sanctions are primarily responsible for civilian suffering—Regional Agent blames both, Eastern Agent blames U.S. sanctions, Neutral Agent blames Tehran's choices.
Blind spots
- All agents focus on state-level leverage and market signals, but overlook the role of ordinary Iranians' agency and resistance in shaping outcomes.
- The debate ignores how alternative payment systems and de-dollarization efforts by China and Russia could fundamentally alter the leverage balance.
- No one addresses the long-term environmental and social costs of relying on fossil fuel transit through the Strait of Hormuz.
WorldAttention’s read
The roundtable revealed deep divisions over who holds the upper hand in U.S.-Iran talks, with Neutral Agent arguing that market data shows Iran needs a deal more, while Eastern and Regional Agents insist Iran's resilience and multipolar alliances give it real leverage. All sides agree that sanctions have caused immense suffering for Iranian civilians, but they disagree on who is to blame—the U.S. for imposing them or Tehran for mismanaging resources. The debate also highlighted a shared blind spot: the tendency to treat human lives as data points in a geopolitical chess game, ignoring the voices and agency of ordinary Iranians. Ultimately, the market's reaction to the talks suggests a deal is likely, but the terms will reflect not just economic arithmetic, but also the shifting power dynamics of a multipolar world.
Reporting timeline
Microsoft Surges on New Copilot Launch; Oil Drops on Iran's Hormuz Strait Reopening Plan
On Friday, September 25, U.S. stock indices closed higher, with the Dow up 0.93%, S&P 500 up 0.51%, and Nasdaq up 0.48%. Microsoft led tech gains, rising 3.66% to a November 2023 high after announcing a new Copilot version with Home, Code, and Autopilot capabilities, embedding Office apps directly into the AI tool. Apple rose 1.53% to a record close, nearing $5 trillion market cap. Meta fell 3.33% on profit-taking after AI agent Muse gains. Storage chip stocks rose on SK Hynix's Solidigm U.S. IPO plan and AI demand expectations. In commodities, WTI crude fell 2.29% to $92.44/barrel after Iran's Foreign Minister Araghchi said Iran has sent a plan via Qatar to the U.S. to reopen the Hormuz Strait within seven days if the U.S. takes required actions from a June memorandum. Gold rose 0.52% to $4,320.5/oz. The China金龙 index fell 0.64%.
Read sourceUS stocks rally as Iran proposes reopening Hormuz Strait, US talks described as constructive
U.S. stock indices closed higher on Friday, with the Dow up nearly 1%, the S&P 500 up 0.51%, and the Nasdaq up 0.48%, driven by a sharp drop in international oil prices. A U.S. official revealed that Washington is engaged in 'positive and constructive' discussions with Iran after Tehran proposed a plan to reopen the Strait of Hormuz in exchange for renewed negotiations. Iranian Foreign Minister Araghchi stated that Iran has submitted a seven-day plan to U.S. mediators: if specific conditions are met, the strait will reopen after seven days and talks will resume. The U.S. official noted that nearly 40 million barrels of oil have passed through the strait under U.S. escort in the past 48 hours, and that Washington is not in a hurry. Meanwhile, Saudi Arabia's crude exports surged to 6 million barrels per day in September, the highest since the conflict began, as confidence in using the Hormuz route increased. Apple shares hit a record closing high, nearing a $5 trillion market cap.
Read sourceUS Tech Giants Hit Record Highs; Apple Market Cap Nears $5 Trillion
On September 25, US stock indices closed higher, with the Dow Jones rising nearly 480 points (about 1%) and the Nasdaq and S&P 500 gaining about 0.5%, both achieving a second consecutive weekly gain. Major tech stocks showed mixed performance: Microsoft rose 3.66% to $516.17, leading the 'Magnificent Seven,' after announcing upgrades to its Copilot service, including new Home, Code, and Autopilot features that integrate Word, Excel, and PowerPoint and allow natural-language app creation. Apple gained 1.53% to close at a record $341.07, pushing its market capitalization toward $5 trillion. The semiconductor sector outperformed, with the Philadelphia Semiconductor Index up 1.41%. In commodities, gold prices edged higher (spot gold +0.15% to $4,284.13/oz), while oil prices fell over 2% (Brent crude at $97.62/barrel).
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Apple hits record high, market cap surges $75B; Chinese stocks fall; oil drops 2% on potential Russia-US-Ukraine talks
On September 26, U.S. stock indices rose, with the Dow up 0.93%, S&P 500 up 0.51%, and Nasdaq up 0.48%. Apple hit a record closing high, gaining over 1% and adding $75.1 billion in market cap, nearing $5 trillion. Microsoft rose over 3%. Semiconductor and financial stocks broadly gained. Chinese stocks listed in the U.S. declined, with Lufax Holding falling nearly 9%. U.S. Treasury yields surged, with the 10-year yield above 5.22% and the 30-year yield above 5.5%, a 2004 high. International oil prices dropped over 2% for both WTI and Brent crude. Gold futures rose slightly. In geopolitical news, Iran's foreign minister said a new negotiation draft was sent to the U.S. to reopen the Strait of Hormuz. Separately, Russian presidential spokesman Dmitry Peskov said a Russia-U.S.-Ukraine tripartite meeting may be held soon, but no details were provided. The article concludes by asking readers for their short-term outlook on oil and U.S. stocks.
Read sourceApple Hits Record High, Market Cap Surges $75 Billion; Chinese Stocks Fall, Oil Drops Over 2%
On September 26, U.S. stock indices opened higher, with the Dow up 0.93%, S&P 500 up 0.51%, and Nasdaq up 0.48%. Apple rose over 1% to a new record closing high, increasing its market cap by $75 billion (about 504.2 billion yuan) to nearly $5 trillion. Microsoft gained over 3%, hitting its highest close since November last year. Semiconductor and memory chip stocks broadly rose, with Qualcomm up nearly 4% and SK Hynix up over 2%. Financial stocks also gained, with Citigroup, Goldman Sachs, JPMorgan, and Bank of America each rising over 1%. Gold stocks mostly rose, with Kinross Gold up 2.6%. Chinese concept stocks weakened, with Lufax Holding down nearly 9%, and 21Vianet, Xiaoniu, and WeRide each falling over 4%. U.S. Treasury yields surged, with the 10-year yield above 5.22% and the 30-year yield above 5.5%, a new high since 2004. International oil prices fell sharply, with WTI crude down 2.4% and Brent crude down over 2.7%. Precious metals edged up, with COMEX gold up 0.52% and silver up 1.11%. In geopolitical news, Iran's Foreign Minister said a new negotiation draft was submitted to the U.S. to reopen the Strait of Hormuz and restart talks. Russian Presidential Press Secretary Dmitry Peskov said a Russia-U.S.-Ukraine tripartite meeting may be held soon, without specific details.
Read sourceApple Hits Record High, Market Cap Surges $75 Billion; Chinese Stocks Fall, Oil Drops Over 2%
On September 26, US stock indices rose, with the Dow up 0.93%, S&P 500 up 0.51%, and Nasdaq up 0.48%. Apple gained over 1%, hitting a record closing high and approaching a $5 trillion market cap, adding $75.1 billion (about 504.2 billion yuan) in a single day. Microsoft rose over 3% to its highest since November last year. Semiconductor and memory chip stocks broadly rose, with Qualcomm up nearly 4%. Financial stocks also gained, with Citigroup, Goldman Sachs, JPMorgan, and Bank of America all up over 1%. Gold stocks mostly rose. Chinese concept stocks weakened, with Lufax Holding down nearly 9%, and others like 21Vianet, Xiaoniu, and WeRide down over 4%. US Treasury yields surged, with the 10-year yield above 5.22% and the 30-year yield above 5.5%, a new high since 2004. International oil prices fell sharply, with WTI crude down 2.4% and Brent down over 2.7%. Precious metals edged up. According to CCTV News, Iranian Foreign Minister Araghchi said Iran has submitted a new negotiation draft to the US to 'reopen' the Strait of Hormuz and restart talks. Russian presidential press secretary Peskov said a Russia-US-Ukraine tripartite meeting may be held soon, but no details are available.
Read sourceApple Hits Record High, US Stocks Rise; Oil Drops as Russia-US-Ukraine Meeting Possible
On September 26, US stock indices closed higher, with the Dow up 0.93%, S&P 500 up 0.51%, and Nasdaq up 0.48%. Apple (AAPL) rose over 1% to a new record closing high, increasing its market cap by approximately $75.1 billion (about 504.2 billion yuan) to near $5 trillion. Microsoft (MSFT) gained over 3%. Semiconductor and financial stocks broadly rose. Chinese concept stocks weakened, with Lufax Holding (LU) falling nearly 9%. US Treasury yields surged, with the 10-year yield above 5.22% and the 30-year yield above 5.5%, a new high since 2004. International oil prices dropped sharply, with WTI crude down 2.4% and Brent crude down over 2.7%. Gold prices edged up slightly. According to CCTV News, Iranian Foreign Minister Araghchi said on September 24 that Iran has submitted a new negotiation draft to the US to 'reopen' the Strait of Hormuz and restart talks. Separately, Russian Presidential Press Secretary Peskov stated on September 25 that a Russia-US-Ukraine tripartite meeting may be held in the near future, but no specific details are available yet. The article ends by asking readers for their views on the short-term direction of oil prices and US stocks.
Read sourceWall Street Rises on Iran Talks; Meta Falls on AI Bot Issues; Microsoft Hits Record
U.S. stock indices closed higher on Friday, buoyed by reports of diplomatic progress between the U.S. and Iran. The Dow Jones Industrial Average rose 0.93%, the S&P 500 gained 0.51%, and the Nasdaq Composite added 0.48%. The 'Treasury bond storm' eased, with the 2-year yield falling 7 basis points to 4.86% and the 10-year yield dropping 4 basis points to 5.17%. Iranian Foreign Minister Araghchi confirmed a 'specific seven-day plan' had been sent to the U.S. via Qatar, stating that if conditions are met, the Strait of Hormuz could reopen within seven days. In corporate news, Microsoft rose 3.66% after launching a new version of its Copilot AI assistant, adding about $135 billion in market value. Meta fell 3.33% after reports that its 'Muse' AI agent faced computing power bottlenecks. Apple hit a record closing high. The Philadelphia Semiconductor Index rose 1.41%, extending its winning streak. The Nasdaq China Golden Dragon Index fell 0.64%.
Read sourceUS Stocks Rise as Iran Nuclear Talks Advance; Oil Falls on Strait of Hormuz Proposal
US stocks closed higher on Friday, with the Dow Jones Industrial Average gaining 0.93%, the S&P 500 rising 0.51%, and the Nasdaq Composite adding 0.48%. The gains came as international oil prices fell sharply following reports that US-Iran negotiations in New York have moved from preliminary diplomatic contacts into a deeper technical consultation phase. According to reports, Iran is promoting a '7-day plan' under which it would reopen the Strait of Hormuz if the US lifts its blockade. The plan is seen as an accelerated version of a previously discussed 60-day negotiation process aimed at returning to direct talks on Iran's nuclear program. In other macro news, Cleveland Fed President Beth Hammack stated that the recent rise in Treasury yields is not due to a loss of confidence in inflation returning to target, but is driven by factors including a strong economic outlook and fiscal policy. Separately, OpenAI is investigating a series of anomalous events caused by its AI agents, which have reportedly leaked 53 ChatGPT user images; the investigation is expected to take months. In corporate news, SK Hynix's subsidiary Solidigm is reportedly considering an IPO that could value it at $150 billion.
Read sourceUS Stocks Rise on Iran Talks, Easing Bond Yields; Microsoft, Apple Hit Highs
U.S. stocks closed higher on Friday, with the S&P 500, Nasdaq, and Dow Jones all posting gains, as reports of diplomatic negotiations to resolve the Iran issue eased oil prices and calmed the 'Treasury bond storm.' Short-term yields fell significantly, with the 2-year Treasury yield dropping about 7 basis points to 4.86%. The rally was confirmed by Iranian Foreign Minister Araghchi, who stated at a UN press conference that Iran had conveyed a 'specific seven-day plan' via Qatar to the U.S., offering to reopen the Strait of Hormuz if conditions are met. In corporate news, Microsoft rose 3.66% after launching a new Copilot version integrating office, coding, and AI agent functions, adding about $135 billion in market cap. Apple hit a record closing high. Meta fell 3.33% after reports of its Muse AI agent facing 'computing power bottlenecks.' The Philadelphia Semiconductor Index rose 1.41%, extending its weekly winning streak to four. The Nasdaq China Golden Dragon Index fell 0.64% for the week. Other notable developments include Tesla's Optimus robot production reportedly increasing tenfold from Q2, and SK Hynix subsidiary Solidigm considering an IPO with a potential valuation of up to $150 billion.
Read sourceWall Street Rises on Iran Talks; Microsoft, AI Stocks Drive Tech Gains
U.S. stocks closed higher on Friday, with the S&P 500 up 0.51%, Nasdaq up 0.48%, and Dow up 0.93%, as reports of diplomatic talks between the U.S. and Iran eased oil prices and calmed the bond market. The 2-year Treasury yield fell 7 basis points to 4.86%, while the 10-year yield dropped 4 basis points to 5.17%. Iran's Foreign Minister Araghchi confirmed a seven-day plan to reopen the Strait of Hormuz if conditions are met. In tech, Microsoft rose 3.66% after launching a new Copilot with usage-based pricing, while Meta fell 3.33% due to reported compute bottlenecks for its Muse AI agent. Apple hit a record high. The Philadelphia Semiconductor Index gained 1.41%, up 6.27% for the week. SpaceX plans to double its GPU count by year-end. SK Hynix subsidiary Solidigm is considering a 2025 IPO with a potential valuation of $150 billion. The Nasdaq China Golden Dragon Index fell 0.64%.
Read sourceWall Street Rises on Oil Price Drop as Iran Signals Strait of Hormuz Talks
U.S. stock indices closed higher on September 25, 2024, with the Dow Jones Industrial Average rising 0.93% to 51,828.62 points, as market sentiment improved on expectations that the Strait of Hormuz may reopen. The optimism was triggered by a report from Xinhua that Iranian Foreign Minister Abbas Araghchi stated on September 24 that Iran had submitted a new negotiation draft to the United States, proposing to 'reopen' the Strait of Hormuz and restart talks. This news drove oil prices lower, with Brent crude falling 2.1% to $104 per barrel, which in turn boosted equities. The rally was broad-based, with the Philadelphia Semiconductor Index gaining, led by companies such as ON Semiconductor, Microchip Technology, Qualcomm, and Texas Instruments. Memory chip stocks also rebounded, including SK Hynix, Western Digital, and Micron Technology. The 'Magnificent Seven' tech stocks index rose 0.66%, with gains from Microsoft, Apple, Nvidia, Amazon, and Tesla. Optical communications firm Corning also advanced. The article is sourced from China Business News via East Money.
Read sourceWall Street Rises, Oil Drops Over 2%; Tesla Robot Output Surges Tenfold
U.S. stock indices closed higher on September 25, with the Dow Jones Industrial Average rising 0.93% to 51,828.62 points, ending a three-week losing streak. Microsoft shares gained 3.66% to a November high, while Apple hit a record close, nearing a $5 trillion market cap. Meta fell 3.33% on profit-taking after a Muse AI agent-driven rally. In commodities, WTI crude oil fell 2.29% to $92.44 per barrel, while gold rose 0.52% to $4,320.5 per ounce. European markets were mixed. In corporate news, Tesla reportedly increased production of its Optimus humanoid robot to hundreds per week, roughly ten times the prior quarter's rate, with plans for a continuous automated line targeting over 1,000 units weekly by year-end. SK Hynix's subsidiary Solidigm is considering an IPO as early as next year, with a potential valuation of up to $150 billion. Separately, U.S. 30-year Treasury yields exceeded 5.5%, the highest since 2004. In diplomacy, President Xi Jinping concluded a state visit to the U.S., and U.S.-Iran talks in New York advanced to technical consultations, with Iran proposing a '7-day plan' to reopen the Strait of Hormuz if sanctions are lifted.
Read sourceMicrosoft Launches New Copilot App, Leading US Tech Stocks Higher
On September 25, US stock indices opened slightly higher, led by the semiconductor sector. Microsoft shares rose over 3%, leading the 'Magnificent Seven' tech giants, after announcing the launch of a new Copilot application. The app integrates tools like Word, Excel, and PowerPoint, and introduces three core capabilities: Home, Code, and Autopilot. Autopilot is described as a continuously running, proactive AI agent. The 30-year US Treasury yield surged above 5.5%, a 2004 high. Gold prices showed mixed performance, with spot gold down 0.2% and futures up slightly. Oil prices fell. Separately, Iranian Foreign Minister Araghchi stated that Iran has submitted a new negotiation draft to the US to reopen the Strait of Hormuz in exchange for sanctions relief. TD Securities forecasts gold could break above $5,000 per ounce by 2027, citing strong investment demand despite rising interest rates.
US Semiconductor Stocks Rally, ARM Up 5%; Tech Giants Show Mixed Performance
On the evening of September 25, Beijing time, US stock indices opened slightly higher, with the Dow Jones up 0.43%, S&P 500 up 0.31%, and Nasdaq up 0.39% as of 10 p.m. The 'Magnificent Seven' tech stocks showed mixed performance: Microsoft surged over 3% after releasing a new Copilot with Home, Code, and Autopilot AI features, while Google, Nvidia, and Apple edged higher, and Meta fell 2.7%. The semiconductor sector rose, with the Philadelphia Semiconductor Index up over 1%, ARM gaining over 5%, ON Semiconductor over 4%, SK Hynix over 3%, and SanDisk and ASML over 1%, while Intel dropped 1.8%. International oil prices declined, with US crude and Brent falling to $93.23 and $98.95 per barrel respectively. Gold and silver gains nearly erased, with spot gold at $4,276.8/oz and silver at $63.86/oz. According to Xinhua, Iranian Foreign Minister Abbas Araghchi said on September 24 that Iran has submitted a new negotiation draft to the US to 'reopen' the Strait of Hormuz and restart talks. Sources told Reuters that US and Iranian representatives are discussing a phased agreement involving Iran reopening the strait in exchange for US lifting economic sanctions.
Read sourceUS Semiconductor Stocks Rally, ARM Up 5%; Tech Giants Show Mixed Performance
On the evening of September 25, Beijing time, US stock indices opened slightly higher, with the Dow Jones up 0.43%, the S&P 500 up 0.31%, and the Nasdaq up 0.39% as of 10 p.m. ET. The 'Magnificent Seven' tech stocks showed mixed performance: Microsoft surged over 3% after releasing a new Copilot with Home, Code, and Autopilot AI features, while Google, Nvidia, and Apple edged higher, and Meta fell 2.7%. The semiconductor sector rose, with the Philadelphia Semiconductor Index gaining over 1%, ARM jumping over 5%, ON Semiconductor up over 4%, SK Hynix up over 3%, and SanDisk and ASML up over 1%, while Intel bucked the trend with a 1.8% decline. International oil prices fell, with WTI and Brent crude narrowing losses to under 1.5%, at $93.23 and $98.95 per barrel respectively. Gold and silver gains nearly erased, with spot gold at $4,276.8 per ounce and spot silver at $63.86 per ounce. According to Xinhua, Iranian Foreign Minister Abbas Araghchi said on September 24 at the UN General Assembly that Iran has submitted a new draft proposal to the US to 'reopen' the Strait of Hormuz and restart negotiations. A source told Reuters that US and Iranian negotiators are discussing a phased agreement in New York, including Iran reopening the Strait of Hormuz in exchange for the US lifting its economic blockade.
US Semiconductor Stocks Rally, ARM Up 5%; Tech Giants Diverge, Microsoft Gains on Copilot Update
On the evening of September 25, Beijing time, US stock indices opened slightly higher, with the Dow up 0.43%, S&P 500 up 0.31%, and Nasdaq up 0.39% as of 22:00. The 'Magnificent Seven' tech stocks showed divergence: Microsoft surged over 3% after releasing a new version of Copilot with Home, Code, and Autopilot AI features, according to Caixin. Google, Nvidia, and Apple edged higher, while Meta fell 2.7%. The semiconductor sector rose, with the Philadelphia Semiconductor Index up over 1%, ARM surging over 5%, ON Semiconductor up over 4%, SK Hynix up over 3%, and SanDisk and ASML up over 1%, while Intel fell 1.8%. International oil prices declined, with WTI and Brent crude narrowing losses to under 1.5% at $93.23 and $98.95 per barrel respectively. Gold and silver gains nearly erased, with spot gold at $4,276.8/oz and silver at $63.86/oz. According to Xinhua, Iranian Foreign Minister Araghchi told media on September 24 that Iran submitted a new draft negotiation to the US proposing to 'reopen' the Strait of Hormuz and restart talks. A source told Reuters that US-Iran negotiators in New York are discussing a phased agreement involving Iran reopening the Strait in exchange for US lifting economic sanctions.
Read sourceUS Semiconductor Stocks Rally, Tech Giants Diverge as US-Iran Reportedly Discuss Interim Deal
On September 25, US stock indices opened slightly higher, with the Dow up 0.43%, S&P 500 up 0.31%, and Nasdaq up 0.39%. Tech mega-caps showed mixed performance: Microsoft rose over 3% after releasing a new Copilot with Home, Code, and Autopilot AI features, while Meta fell 2.7%. The semiconductor sector gained, with the Philadelphia Semiconductor Index up over 1%, ARM surging over 5%, and ON Semiconductor up over 4%. Akamai Technologies initially surged 16% after announcing a $11.6 billion, seven-year contract commitment with AI company Anthropic. Chinese ADRs were mixed, with the Nasdaq China Golden Dragon Index down 0.2%. International oil prices fell, with WTI and Brent crude declining under 1.5%. Gold and silver gains nearly erased. In geopolitics, Iranian Foreign Minister Araghchi stated Iran submitted a new draft to the US to 'reopen' the Strait of Hormuz and restart negotiations. Sources told Reuters that US and Iranian representatives are discussing a phased agreement involving reopening the strait in exchange for lifting economic sanctions.
US semiconductor stocks rise, tech giants diverge, US-Iran reported discussing phased deal
On September 25, US stock indices opened slightly higher, with the Dow up 0.43%, S&P 500 up 0.31%, and Nasdaq up 0.39%. Tech mega-caps showed mixed performance: Microsoft rose over 3% after releasing a new Copilot with AI features, while Meta fell 2.7%. The semiconductor sector gained, with the Philadelphia Semiconductor Index up over 1%, ARM surging over 5%, and ON Semiconductor up over 4%. Akamai Technologies jumped 7% after announcing a $11.6 billion, seven-year contract with AI firm Anthropic. Chinese ADRs were mixed, with the Nasdaq China Golden Dragon Index down 0.2%. International oil prices fell, with WTI and Brent crude down under 1.5%. Gold and silver gains nearly erased. Separately, Iran's Foreign Minister said Tehran submitted a new draft to the US to reopen the Strait of Hormuz and restart negotiations. Sources told Reuters that US and Iranian representatives are discussing a phased deal involving reopening the strait in exchange for lifting US economic sanctions.
Read sourceUS semiconductor stocks rally, ARM up 5%; tech giants diverge; US-Iran reported discussing phased deal
On September 25, US stock indices opened slightly higher, with the Dow up 0.43%, S&P 500 up 0.31%, and Nasdaq up 0.39%. Tech mega-caps showed mixed performance: Microsoft surged over 3% after releasing a new Copilot with Home, Code, and Autopilot AI features, while Meta fell 2.7%. The semiconductor sector rose, with the Philadelphia Semiconductor Index up over 1%, ARM gaining over 5%, and ON Semiconductor up over 4%. Akamai jumped 16% initially after announcing a $11.6 billion, seven-year contract commitment with AI firm Anthropic. Chinese ADRs were mixed, with the Nasdaq China Golden Dragon Index down 0.2%. International oil prices fell, with WTI and Brent crude down within 1.5%. Gold and silver gains nearly erased. According to Xinhua, Iran's Foreign Minister said Iran submitted a new negotiation draft to the US to reopen the Strait of Hormuz and restart talks. Sources told Reuters that US and Iranian representatives are discussing a phased agreement in New York, potentially reopening the Strait of Hormuz in exchange for US lifting economic sanctions.
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