Hormuz Deal Remains Elusive, Stocks Hold Near Record Highs | The Opening Trade 8/10/2026

Stocks traded near record highs on August 10, 2026, with Asian markets following Wall Street gains from the previous Friday after weak US jobs data reduced expectations for Federal Reserve interest-rate increases. Oil prices held around $83 per barrel as negotiations over reopening the Strait of Hormuz continued without agreement. Iran's Foreign Minister Abbas Araghchi said an agreement with Oman to establish a shipping route through Hormuz was "very close" over the weekend and stated that direct talks with the US were not occurring at that time due to violations of an interim peace deal reached in June.

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