Iran War: US Strikes Targets Near Hormuz With No Deal in Sight | The Opening Trade 5/28/2026
Stocks fell while oil and bond yields climbed after fresh attacks in the Middle East fueled doubts over whether an end to the war is imminent.
S&P 500 futures slipped 0.2%, pointing to the benchmark’s first decline in more than a week. Nasdaq 100 contracts dropped 0.3%. Brent rose 2.9% toward $97 a barrel after the US carried out airstrikes on an Iranian military site, clouding hopes for a diplomatic breakthrough. Bonds fell around the world as central bankers pointed to the inflationary risks stemming from the conflict.
The latest upheaval between the US and Iran shows the fragility of the ceasefire and the push for a deal that traders have long seen as only a matter of time. The prospect of oil-driven inflation is also building across the global economy, with the Federal Reserve’s preferred inflation gauge expected to climb closer to 4% in data due Thursday.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Joumanna Bercetche and Tom Mackenzie.
Chapters:
00:00:00 – The Opening Trade
00:00:39 – Market Check
00:02:28 – US Will Watch Over Strait of Hormuz: Trump
00:04:40 – Fed Policymakers on Inflation
00:06:11 – Snowflake Stock
00:09:55 – JPMorgan is Over-Earning: Jamie Dimon
00:10:41 – KNDS Readies for IPO
00:14:26 – Dollar Edges Higher
00:25:38 – Aluminum Price
00:36:00 – Snowflakes Raises Sales Outlook
00:39:10 – Conditions Are Ripe for Negative Spiral: MLIV
00:47:19 – Stocks to Watch: Delivery Hero, L’Oreal, Tech Stocks
01:04:28 – Soitec Sales
01:08:10 – Best Buy, Costco, Dollar Tree Earnings
01:15:16 – TSMC CEO Pledges Bonus Bump
01:28:13 – Tony Blair Criticizes Labour
01:33:42 – US PCE Data Due
01:34:25 – Oil, Brent Crude Prices
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