Good afternoon and welcome to Markets Desk, your midday read on what's moving markets right now.
The geopolitical picture is shifting fast in the Middle East. Iran says Washington is prepared to return to its nuclear commitments, signaling that a deal may be closer than markets had priced in. Trump has indicated negotiations are progressing, though Tehran is pushing back on the characterization of active direct talks, leaving oil traders and risk desks watching every headline carefully.
Turning to monetary policy, Fed Governor Cook is reinforcing the hawkish tone coming out of last week's meeting. Cook, who voted with the nine-to-three majority to hold rates in the three point five to three point seventy-five percent range, says she remains prepared to act on a rate hike if inflation demands it. That language matters — it tells bond markets the Fed is not yet done and the hiking bias is very much alive.
Meanwhile, AbbVie is giving income investors something to feel good about. The pharmaceutical giant posted solid second-quarter results, driven by Skyrizi and Rinvoq, its two flagship immunology drugs. AbbVie continues its streak of dividend increases regardless of broader market conditions, and Wall Street is maintaining a buy rating on the name.
That's the tape. Markets Desk, signing off the floor.
