US Market Open: US indices quiet as energy trickles lower; GBP unreactive as UK PM steps down

Over the weekend, Iran shut the Strait of Hormuz amidst continued Israeli strikes on southern Lebanon. This led to Brent Aug’26 to gap higher by c. USD 2/bbl.Thereafter, attention turned to negotiations, which yielded progress and improved the geopolitical mood. Brent Aug’26 then moved into the red, currently -1.8%.China added 10 US firms to its export control list, including USA Rare Earths, while the Finance Ministry announced it would take relevant measures against 46 US companies in government procurement activities.European bourses trade tentatively alongside similar action across US equity futures.DXY is a touch firmer this morning; USD/JPY continues to rise, and eyes 162.00 to the upside.Global fixed benchmarks are mixed; Gilts digest UK PM Starmer’s decision to resign.Looking ahead, highlights include Canadian Inflation (May), EU Consumer Confidence Flash (Jun), CNB Minutes (Jun), and speakers including Fed's Waller & ECB's Lagarde.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk