Global markets stall as US extends Iran ceasefire

U.S. authorities extended the ceasefire with Iran without setting a new deadline, and global markets saw muted trading after an initial overnight spike in futures. The extension came with roughly four hours remaining before the prior deadline, prompting a brief burst of volatility before activity thinned across stocks, metals, currencies and cryptocurrencies.

Overnight futures rose after the announcement but the gains did not hold into regular trading. Market participants said they are waiting for firm details on who will represent each side, the meeting schedule and any formal agenda before repositioning.

Reports of internal tensions in Iran, including clashes between the Islamic Revolutionary Guard Corps and more moderate government figures, have added to uncertainty and prompted traders to monitor any signs of pressure on negotiators. U.S. officials have signaled they are pressing for an agreement, while diplomatic teams have yet to be confirmed.

Equity markets traded near recent highs with volume below average. The Nasdaq has recovered about 18% from earlier war-related lows, supported by flows into large technology firms ahead of earnings. The Dow Jones Industrial Average showed less volatility as broader investors held positions but did not add notable risk without clearer diplomatic signals.

Metals posted limited conviction. Silver rose briefly above $80 per ounce before reversing and trading back within a range around $65 to $85; market participants noted that a daily close below $74 could accelerate selling pressure. Gold and other traditional safe-haven assets moved only modestly.

Cryptocurrencies advanced in the immediate reaction to the ceasefire extension but did not sustain the gains. The U.S. dollar index bounced from near 98 to a two-week high, while foreign-exchange traders described the near-term pattern as contained and contingent on further diplomatic developments.

Market strategist Elior Manier wrote, “Participants will have to remain patient and lean on current pricing to prepare for breakout plays when some news drop.”

Traders and asset managers are watching for official statements confirming delegations, meeting dates and the talks' agenda. Major indexes remain near multi-month highs, while selected commodities and cryptocurrencies are trading in established ranges pending clearer information on the negotiations.