Market Update
U.S. Stocks, Oil, and Metals Trade Volatile as Investors Discount Trump's Unverifiable Iran Negotiation Claims
Barry Adams
24 Mar, 2026
New York City
Wall Street indexes traded down following sharp gains in Monday's trading, and crude oil prices resumed their advance.
The S&P 500 Index decreased 0.3%, and the tech-heavy Nasdaq Composite declined 0.4% amid renewed skepticism about the situation in the Middle East.
Over the weekend, the U.S. president claimed that Iran's "top person" is negotiating with the U.S., and both sides are inching closer to an "agreement."
However, Iran's leaders denied the existence of such talks and asserted that Trump is looking for a way to buy time to prepare for a ground invasion.
Brent crude oil jumped 1.7% to $101.67 a barrel and West Texas Intermediate advanced 2.8% to $90.54 a barrel as investors overlooked Trump's claims of a possible resumption of energy product shipments through the Strait of Hormuz.
Donald Trump has a history of making unverifiable claims and walking back from initial bombastic assertions. Increasingly, international markets are ignoring Trump's claims and shifting their focus on actions in the Middle East.
Metals, commodities, and energy markets overlooked Trump's misleading comments, and crude oil prices rose and precious metals declined amid worries of major central banks lifting rates.
The spot gold price rebounded to a gain of 1% and erased losses of 4% earlier in the session in London and Shanghai, as investors discount Trump's claims about negotiations with Iran and plans to reopen the Strait of Hormuz.
The price of gold edged up 0.5% to $4,453 an ounce, about 21% lower than the peak of $5,594.82 at the end of January.
The recent strength in the dollar and worries of higher interest rates driven by the sharp rise in crude oil prices weighed on gold demand.
U.S. Movers
Estee Lauder edged up 0.5% to $79.70 after the company confirmed it is in the early stages of discussion with Jean Paul Gaultier owner Puig SA.
Puig Brands SA jumped 14% in Madrid, Spain, trading at €17.70.
Investors appear to be skeptical that a deal of this size could be pulled off without execution risks, and Estee Lauder dropped as much as 8% in yesterday's session following the first report on the merger.
As of last Friday's close, Puig Brands had market capitalization of $10 billion and Estee Lauder boasted a market cap of $29 billion.
U.S. Stocks, Oil, and Metals Trade Volatile as Investors Discount Trump's Unverifiable Iran Negotiation Claims
Barry Adams
24 Mar, 2026
New York City
Wall Street indexes traded down following sharp gains in Monday's trading, and crude oil prices resumed their advance.
The S&P 500 Index decreased 0.3%, and the tech-heavy Nasdaq Composite declined 0.4% amid renewed skepticism about the situation in the Middle East.
Over the weekend, the U.S. president claimed that Iran's "top person" is negotiating with the U.S., and both sides are inching closer to an "agreement."
However, Iran's leaders denied the existence of such talks and asserted that Trump is looking for a way to buy time to prepare for a ground invasion.
Brent crude oil jumped 1.7% to $101.67 a barrel and West Texas Intermediate advanced 2.8% to $90.54 a barrel as investors overlooked Trump's claims of a possible resumption of energy product shipments through the Strait of Hormuz.
Donald Trump has a history of making unverifiable claims and walking back from initial bombastic assertions. Increasingly, international markets are ignoring Trump's claims and shifting their focus on actions in the Middle East.
Metals, commodities, and energy markets overlooked Trump's misleading comments, and crude oil prices rose and precious metals declined amid worries of major central banks lifting rates.
The spot gold price rebounded to a gain of 1% and erased losses of 4% earlier in the session in London and Shanghai, as investors discount Trump's claims about negotiations with Iran and plans to reopen the Strait of Hormuz.
The price of gold edged up 0.5% to $4,453 an ounce, about 21% lower than the peak of $5,594.82 at the end of January.
The recent strength in the dollar and worries of higher interest rates driven by the sharp rise in crude oil prices weighed on gold demand.
U.S. Movers
Estee Lauder edged up 0.5% to $79.70 after the company confirmed it is in the early stages of discussion with Jean Paul Gaultier owner Puig SA.
Puig Brands SA jumped 14% in Madrid, Spain, trading at €17.70.
Investors appear to be skeptical that a deal of this size could be pulled off without execution risks, and Estee Lauder dropped as much as 8% in yesterday's session following the first report on the merger.
As of last Friday's close, Puig Brands had market capitalization of $10 billion and Estee Lauder boasted a market cap of $29 billion.
Tokyo Stock Bounce Dissipated After Crude Oil Prices Turned Higher
Akira Ito
24 Mar, 2026
Tokyo
Japan's benchmark indexes erased early gains on Tuesday after crude oil resumed its advance.
The Nikkei 225 Stock Average gained 0.6%, and the broader Topix index added 1.5% amid hopes of de-escalation of tensions in the Middle East.
The U.S. president claimed that Iran's "top person" is negotiating with the U.S., and both sides are inching closer to an "agreement."
However, Iran's leaders denied the existence of such talks and asserted that Trump is looking for a way to buy time to prepare for a ground invasion.
Brent crude oil jumped 4.4% to $104.26 a barrel as investors rejected Trump's claims of a possible resumption of energy product shipments through the Strait of Hormuz.
Metals, commodities, and energy markets overlooked Trump's misleading comments, and crude oil prices rose and precious metals declined amid worries of major central banks lifting rates.
Japan's Consumer Price Inflation Slowed to 4-Year Low
Japan's consumer price inflation in February dropped to the lowest level since March 2022, and core inflation eased for the third consecutive month.
Japan's annual consumer price inflation slowed to 1.3% from 1.5% in February, said the Ministry of Internal Affairs and Communications on Tuesday.
The central government's subsidy for the electricity price and rice supported the easing of overall and core inflation.
Core inflation, which excludes volatile food prices, eased to 1.6% from 2.0% in January and fell to below the central bank's target rate of 2.0% for the first time since March 2022.
Despite the steady decline in the annual rate of inflation since October, prices are likely to rebound amid a surge in imported energy products because of the U.S.-Israel war on Iran.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.6% to 51,843.73, and the broader Topix Index added 1.5% to 3,538.39.
Technology and financial stocks led gainers in Tokyo trading on Tuesday.
SoftBank Group, Kioxia Holdings, Advantest Corp., and Tokyo Electron gained between 1% and 3%.
Sumitomo Mitsui Financial, Mizuho Financial, and Mitsubishi UFJ Financial advanced between 2% and 3%.
Nippon Yusen KK, Mitsui O.S.K. Lines, and Kawasaki Kisen Kaisha increased between 1% and 2%.
Japan TUESDAY
Akira Ito
24 Mar, 2026
Tokyo
Japan's benchmark indexes erased early gains on Tuesday after crude oil resumed its advance.
The Nikkei 225 Stock Average gained 0.6%, and the broader Topix index added 1.5% amid hopes of de-escalation of tensions in the Middle East.
The U.S. president claimed that Iran's "top person" is negotiating with the U.S., and both sides are inching closer to an "agreement."
However, Iran's leaders denied the existence of such talks and asserted that Trump is looking for ways to buy time to prepare for a ground invasion.
Brent crude oil jumped 4.4% to $104.26 a barrel as investors rejected Trump's claims of a possible resumption of energy product shipments through the Strait of Hormuz.
Metals, commodities, and energy markets overlooked Trump's misleading comments, and crude oil prices rose and precious metals declined amid worries of major central banks lifting rates.
Japan's consumer price inflation in February dropped to the lowest level since March 2022, and core inflation eased for the third consecutive month.
Japan's annual consumer price inflation slowed to 1.3% from 1.5% in February, said the Ministry of Internal Affairs and Communications on Tuesday.
The central government's subsidy for the electricity price and rice supported the easing of overall and core inflation.
Core inflation, which excludes volatile food prices, eased to 1.6% from 2.0% in January, and fell to below the central bank's target rate of 2.0% for the first time since March 2022.
Despite the steady decline in the annual rate of inflation since October, prices are likely to rebound amid a surge in prices of imported energy products because of the U.S.-Israel war on Iran.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.6% to 51,843.73, and the broader Topix Index added 1.5% to 3,538.39.