US naval blockade lifted amid progress toward Iran deal
The US has lifted its naval blockade as a step toward a broader agreement with Iran. The move follows a meeting in the White House Situation Room.
US April advanced goods trade balance was -$82.40 billion, beating the expected -$86.50 billion. The US stock market extended gains to new record highs on optimism about the US-Iran deal.
The Fed’s stance on monetary policy remains unchanged, with some officials noting the need for a tighter policy outlook. US April wholesale inventories rose 0.5%, below the expected 0.8% increase.
The announcement has boosted positive risk sentiment, with oil prices extending losses and the tech sector surging.