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

Stocks traded near record highs, with Asian shares mirroring Friday’s gains on Wall Street after weak US jobs data curbed bets on Federal Reserve interest-rate hikes.

Oil traded around $83 a barrel as a deal to reopen the Strait of Hormuz remained elusive.

An agreement with Oman to establish a shipping route through Hormuz was “very close,” Iran’s Foreign Minister Abbas Araghchi said over the weekend.

He ruled out direct talks with the US for now because of violations of an interim peace deal reached in June. The Opening Trade has everything you need to know as markets open across Europe.

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(Source: Bloomberg)