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March 4, 2026 – 11:54

(Bloomberg) — Stocks rebounded after a report that Iran made indirect contact with the US to negotiate an end to the war in the Middle East, boosting hopes that the conflict could be short-lived. The dollar halted a two-day rally.

Futures for the S&P 500 rose 0.3% after falling nearly 1% in the previous session. Operatives from Iran’s Ministry of Intelligence used backchannels to contact the Central Intelligence Agency a day after US-Israeli attacks began, the New York Times reported Wednesday. Officials were skeptical that either the Trump administration or Iran was ready for an off-ramp, the report said.

European stocks advanced 1.2%. Brent crude retreated from an intraday high to trade near $83 a barrel. A selloff in global bonds eased, with the yield on 10-year Treasuries rising two basis points to 4.08%. Bitcoin jumped to nearly $72,000, suggesting some risk appetite was returning.

The US-Israeli attack on Iran has destabilized the Middle East, with no clear sense of when or how the war will end. Markets are focused on oil as traders weigh President Donald Trump’s plan to insure and escort tankers passing through the Strait of Hormuz, with traffic in the vital waterway all but halted.

“We’re in a headline market,” said Guillermo Hernandez Sampere, head of trading at asset manager MPPM. “Rapid movements with higher volatility will remain for a longer period until supply chains are secure again. It will take some time to calm markets.”

Corporate News:

Blackstone Inc.’s talks with New World Development Co. have hit a roadblock because the billionaire family that runs the cash-strapped Hong Kong developer is reluctant to give up control. Bayer AG forecast profits and sales to be little changed in 2026 as the company grapples with generic competition for its blockbuster blood thinner and continued uncertainty over its efforts to contain a pesticide litigation in the US. Adidas AG forecast higher profits this year and market share gains through 2028 as the German brand looks to maintain its momentum with retro sneakers and new running and football products. Anthropic PBC is on track to generate annual revenue of almost $20 billion. Some of the main moves in markets:

Stocks

The Stoxx Europe 600 rose 1.2% as of 10:51 a.m. London time S&P 500 futures rose 0.3% Nasdaq 100 futures rose 0.4% Futures on the Dow Jones Industrial Average rose 0.1% The MSCI Asia Pacific Index fell 3.8% The MSCI Emerging Markets Index fell 3.6% Currencies

The Bloomberg Dollar Spot Index fell 0.2% The euro rose 0.2% to $1.1635 The Japanese yen rose 0.3% to 157.28 per dollar The offshore yuan rose 0.2% to 6.9031 per dollar The British pound rose 0.1% to $1.3377 Cryptocurrencies

Bitcoin rose 5% to $71,440.38 Ether rose 5.4% to $2,075.71 Bonds

The yield on 10-year Treasuries advanced two basis points to 4.08% Germany’s 10-year yield was little changed at 2.76% Britain’s 10-year yield was little changed at 4.47% Commodities

Brent crude rose 1.5% to $82.64 a barrel Spot gold rose 1.9% to $5,185.08 an ounce This story was produced with the assistance of Bloomberg Automation.

–With assistance from Anand Krishnamoorthy, Tiwa Adebayo and Rose Henderson.

©2026 Bloomberg L.P.