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July 27, 2026 at 8:15am ET
Stock Market Today: Oil Tumbles, Stock Futures Jump After Trump Puts Mideast Fighting on Hold
Brent crude is back to about $85 a barrel
Markets are getting a reprieve after the Trump administration paused plans to escalate its war in Iran.
U.S. stock futures are sharply higher, while global oil prices have slid back to about $85 a barrel.
The U.S. late last week was preparing for a series of strikes against Iran, but pulled back to allow for diplomacy. Officials are also debating how an escalation would impact the U.S.'s dwindling munitions supply, my colleagues report. The moves rekindled hopes of a peace deal, though in the meantime, pressures on global energy supplies remain in place.
Elsewhere, memory-chip maker CXMT pulled off a blockbuster stock-market debut, soaring more than fivefold to become the most valuable company listed in mainland China. Investors will watch a fresh batch of U.S. tech earnings this week, including for four of the Magnificent Seven, as worries around AI spending resurface. The Fed’s interest-rate decision Wednesday, one of the least predictable in years, is also in focus.
— By Chelsey Dulaney
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