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Iran War: US Strikes Targets Near Hormuz With No Deal in Sight | The Opening Trade 5/28/2026
Stocks fell while oil and bond yields climbed after fresh attacks in the Middle East fueled doubts over whether an end to the war is imminent.
S&P 500 futures slipped 0.2%, pointing to the benchmark’s first decline in more than a week. Nasdaq 100 contracts dropped 0.3%. Brent rose 2.9% toward $97 a barrel after the US carried out airstrikes on an Iranian military site, clouding hopes for a diplomatic breakthrough. Bonds fell around the world as central bankers pointed to the inflationary risks stemming from the conflict.
The latest upheaval between the US and Iran shows the fragility of the ceasefire and the push for a deal that traders have long seen as only a matter of time. The prospect of oil-driven inflation is also building across the global economy, with the Federal Reserve’s preferred inflation gauge expected to climb closer to 4% in data due Thursday.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Joumanna Bercetche and Tom Mackenzie.
Chapters:
00:00:00 – The Opening Trade
00:00:39 – Market Check
00:02:28 – US Will Watch Over Strait of Hormuz: Trump
00:04:40 – Fed Policymakers on Inflation
00:06:11 – Snowflake Stock
00:09:55 – JPMorgan is Over-Earning: Jamie Dimon
00:10:41 – KNDS Readies for IPO
00:14:26 – Dollar Edges Higher
00:25:38 – Aluminum Price
00:36:00 – Snowflakes Raises Sales Outlook
00:39:10 – Conditions Are Ripe for Negative Spiral: MLIV
00:47:19 – Stocks to Watch: Delivery Hero, L’Oreal, Tech Stocks
01:04:28 – Soitec Sales
01:08:10 – Best Buy, Costco, Dollar Tree Earnings
01:15:16 – TSMC CEO Pledges Bonus Bump
01:28:13 – Tony Blair Criticizes Labour
01:33:42 – US PCE Data Due
01:34:25 – Oil, Brent Crude Prices
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CNN, MS Now and Politico filed a lawsuit seeking to allow their journalists to enter the White House grounds days after President Donald Trump revoked their access, turning to the courts in their fight over constitutional protections for the press. #trump #politics #news #usa #cnn #dc
The news outlets claim the ban is a “direct assault” on the First Amendment and “a blatant violation of our most fundamental constitutional principles,” according to the complaint filed Monday in federal court in Washington.
“President Trump has said in no uncertain terms that he would prefer only to be covered by news organizations and reporters who praise his administration,” the outlets said. “But the Constitution does not allow a president or any other government official to deprive the press of their First Amendment rights and liberty and property interests with no notice or process based solely on his dislike of the content of their reporting.”
Read more: https://www.bloomberg.com/news/articles/2026-09-21/cnn-ms-now-and-politico-to-sue-jointly-over-white-house-ban
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The selloff in the US bond market deepened on Monday after President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, dampening hopes of a diplomatic breakthrough to end the war. We get reaction from Bloomberg’s Ira Jersey. Iranian officials have privately expressed pessimism about reaching a deal to end hostilities with Washington and reopen the Strait of Hormuz before US midterm elections in November, according to people familiar with the matter. Iran and the US made little progress during talks in New York on the sidelines of the United Nations General Assembly last week and the Islamic Republic believes there’s a high chance of the conflict escalating after the November 3rd vote. We speak with former Under Secretary of the US Army, Patrick Murphy. Plus – former Disney CEO Bob Chapek joins for an extended conversation on his book ‘Behind the Castle Walls.’
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A Morgan Stanley banker accidentally shared an internal list of more than 100 deals, exposing potential IPOs and client names to rivals. Kiuyan Wong explains how the email misfire sent the bank scrambling to contain the fallout.
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Bloomberg Surveillance: Early Edition, live from London and New York. Francine Lacqua, Anna Edwards, Matt Miller, and Kailey Leinz deliver the latest news and analysis on the markets with leaders in global finance and economics. Octavio Marenzi, Founder and CEO of Opimas, says U.S. inflation may hit 10%. Joost Beaumont, Senior Fixed Income Strategist at ABN Amro, says the earliest the ECB will hike is September.
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Anna Edwards, Guy Johnson, Tom Mackenzie and Mark Cudmore break down today’s key themes for analysts and investors on “Bloomberg: The Opening Trade.”
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