✅ Hopes for Hormuz Reopening Move Markets Expectations for a possible reopening of the Strait of Hormuz are rising, and markets are reacting early. Weekly trading has started on Globex, but today’s structure is different because of the U.S. Memorial Day holiday. U.S. cash markets — $NYSE and $NASDAQ — are fully closed. CME / Globex futures remain open, but with shortened hours: trading runs until noon Central Time, then reopens again at 5 PM. Oil opened with a downside gap as geopolitical risk premium eased. Equity futures are moving higher as risk appetite improves. Gold $XAU also opened with an upside gap, starting the session with an early jump and higher pricing. Weekend optimism: A preliminary Hormuz agreement framework appears to be forming, but gaps remain on the nuclear and sanctions files. Reports suggest the Iran nuclear agreement is around 95% complete, though signing may still take several days. The Wall Street Journal struck a more cautious tone: “Trump says he is in no rush for a deal that is not yet complete.” Bottom line: Markets are pricing hope, not confirmation. If Hormuz reopening progress continues, oil could face more downside pressure, equities may stay supported, and risk assets could benefit. But if the deal stalls, this optimism can reverse fast. #USIranDealInLimbo