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strikeMar 31, 2026

Dow jumps 200 points to start April as traders bet Middle East conflict will soon end: Live updates

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Dow jumps 200 points to start April as traders bet Middle East conflict will soon end: Live updates Stocks rose on Wednesday, while oil prices declined to start the month, as hope grew that an end to the U.S.-Iran war was on the horizon. The S&P 500 advanced 0.72% and closed at 6,575.32, and the Nasdaq Composite gained 1.16% and settled at 21,840.95. The Dow Jones Industrial Average added 224.23 points, or 0.48%, to end at 46,565.74. President Donald Trump said in a post on Truth Social Wednesday morning that Iran's president has asked the U.S. for a ceasefire. However, the U.S. will consider the offer when the Strait of Hormuz is "open, free, and clear," Trump added, writing that "until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!!!" This comes after the president told reporters at the White House late Tuesday that he expects the U.S. military forces will leave Iran in "two or three weeks." Oil prices eased following that comment. West Texas Intermediate futures settled down 1.24% to close at $100.12 per barrel and Brent crude futures lost 2.7% to settle at $101.16 a barrel. "The market is kind of just sniffing out that there's probably some type of resolution in the next couple of weeks," said Patrick Ryan, chief investment strategist and head of multi-asset solutions at Madison Investments. Optimism around a potential end to the war sent stocks soaring on Tuesday, the final trading day of March. The moves came after an unconfirmed report said that Iranian President Masoud Pezeshkian was open to ending the war with guarantees. He made similar remarks earlier in March, saying in an X post that the "only way to end this war ... is recognizing Iran's legitimate rights, payment of reparations, and firm int'l guarantees against future aggression." The market may not be out of the woods yet, to be sure. According to Ryan, unless there's "some type of all-clear announcement," trading should "remain volatile" in the short term. Investors will get more clues on the path forward for the U.S.-Iran war Wednesday at 9 p.m. ET, with Trump set to deliver an address "to the nation to provide an important update." Stocks end higher on Wednesday The three leading U.S. indexes finished with gains on Wednesday. The S&P 500 rose 0.72% to close the session at 6,575.32, while the Nasdaq Composite jumped 1.16% to 21,840.95. The Dow Jones Industrial Average moved higher by 224.23 points, or 0.48%, to end at 46,565.74. — Sean Conlon Industrials sector leads S&P 500 higher Nine out of the 11 S&P 500 sectors were in positive territory in afternoon trading Wednesday, supporting the broad market index's gains. Industrials was the top-performing sector, seeing a rise of 1.9%. Communication services was next in line with a gain of 1.8%. Materials, information technology and consumer discretionary also all saw gains of more than 1%. Energy and consumer staples were the only two groups in the red, losing 3.7% and 0.3%, respectively. The S&P 500 was last up 0.9%. — Sean Conlon Market is seeing 'oversold rally,' says Renaissance's deGraaf The stock market should be able to rise around 1.5% higher following the strong Tuesday rally, according to Jeff deGraaf, chairman and head of technical research at Renaissance Macro Research. "This is an oversold rally that was sparked by some news and some optimism," deGraaf said Wednesday on CNBC's "Money Movers." "But there's more to do." The S&P 500 notched its best day since May in Tuesday session with Wall Street hoping that the U.S.-Iran war could wind down. The broad index added 0.5% in afternoon trading Wednesday. To be sure, deGraaf noted that market breadth has not been as strong as he would typically like to see. — Alex Harring Oil funds see record trading volume amid U.S.-Iran war Exchange-traded funds tracking oil saw record-setting trading volumes in March as the U.S.-Iran war sent crude prices soaring. More than 1.4 billion shares of the United States Oil Fund (USO) — which tracks American spot prices — exchanged hands in the month, according to FactSet. That exceed the high below 800 million last seen in April 2020. The United States Brent Oil Fund (BNO), which follows the global crude benchmark, saw trading volume surpass 211 million. The prior monthly high set in 2022 was under 112 million. Both funds saw their biggest monthly gains on record in March. The USO ETF climbed more than 55%, while the BNO added more than 49%. — Alex Harring 5 stocks in the S&P 500 trade at new 52-week highs On Wednesday, five stocks in the S&P 500 traded at new 52-week highs. Tickers that hit this milestone included: - Pfizer trading at levels not seen since November 2024 - Ross Stores trading at all-time high levels since its IPO in August 1985 - Equinix trading at levels not seen since November 2024 - Sempra trading at all-time high levels not seen since June 1998 when Sempra was created through the merger of Pacific Enterprises and Enova - Entergy trading at all-time high levels back to when it began trading on the NYSE in 1949 On the other hand, 10 stocks in the index traded at new 52-week lows, such as: - Nike trading at lows not seen since October 2014 - Visa trading at lows not seen since November 2024 - Global Payments trading at lows not seen since April 2016 - Automatic Data Processing trading at lows not seen since June 2022 - Fidelity National Information trading at lows not seen since October 2013 - Broadridge Financial trading at lows not seen since June 2023 - CoStar Group trading at lows not seen since February 2019 - Insulet trading at lows not seen since September 2024 - Progressive trading at lows not seen since March 2024 - TransDigm trading at lows not seen since February 2024 — Lisa Kailai Han and Gina Francolla Nike shares head for worst day in around a year following earnings Nike shares are heading for their worst day in roughly a year after the athletic retailer posted a weak outlook. The Oregon-based firm's shares tumbled 14.3% in afternoon trading. If that holds, it would mark the worst day since early April of 2025, when the stock dropped 14.4%. Nike's guidance overshadowed a stronger-than-expected report for the third quarter. Shares are now down nearly 30% in 2026, on track for their fifth-straight negative year. — Alex Harring SpaceX confidentially files for IPO Elon Musk's SpaceX has confidentially filed for an initial public offering with the Securities and Exchange Commission, sources confirmed to CNBC's David Faber. Bloomberg first reported the development on Wednesday. The report said the filing puts the company on track for a June listing, and that a representative for SpaceX didn't immediately respond to a request for comment. The company merged with Musk's xAI in February, creating a combined entity that he valued at the time at $1.25 trillion. — Lora Kolodny and Davis Giangiulio Eli Lilly jumps after FDA approves its GLP-1 pill Shares of Eli Lilly rose 5% in midday Wednesday trading after the FDA approved its GLP-1 pill Foundayo. The pill will start shipping from the company's direct-to-consumer platform LillyDirect on Monday. Lilly added it will be available at pharmacies and on telehealth platforms shortly after that initial launch. Analysts estimate Foundayo sales will reach $14.79 billion by 2030, according to FactSet. — Angelica Peebles, Annika Kim Constantino and Davis Giangiulio Intel surges 9% after announcing it will buy back stake in Ireland chip plant in $14.2 billion deal Shares of Intel popped on Wednesday after the semiconductor manufacturer announced that it will repurchase a 49% stake in its Ireland Fab 34 joint venture from Apollo for $14.2 billion. Intel stock was last trading 9% higher. The repurchase will be funded through a mix of cash on hand and roughly $6.5 billion in new debt. The Ireland Fab 34 facility is central to Intel's global manufacturing footprint and produces chips using its latest process technologies, Intel 3 and Intel 4. The move unwinds a 2024 deal in which Apollo invested $11.2 billion into the facility, providing Intel with equity-like capital while preserving the semiconductor manufacturer's balance sheet strength. — Lisa Kailai Han ISM manufacturing tops estimates as prices index jumps Factory activity in the U.S. expanded in March, boosted by a gain in production, though inflationary impacts from the Iran war were evident, the Institute for Supply Management reported Wednesday. The ISM manufacturing index, a measure of firms reporting expansion for the period, hit 52.7 for the month, 0.3 points above February and slightly better than the 52.4 Dow Jones consensus estimate. Within the survey, the production index increased 1.6 points to 55.1 and supplier deliveries rose 3.8 points to 58.9. However, the prices index soared to 78.3, an increase of 7.8 points. Employment was little changed at 48.7. A reading above 50 in the ISM survey represents growth. — Jeff Cox HSBC upgrades Bank of America on strong credit record, EPS outlook Bank of America is trading at a discount, and investors would be wise to scoop up shares of the bank, according to HSBC Global Investment Research. The research arm of HSBC upgraded Bank of America stock to buy from hold. However, it lowered its price target on shares to $55 from $57, with the aim of incorporating "higher costs of equity on the back of greater macro uncertainties," according to its analysts' recent note to clients. "For BAC, we feel its leadership position across financial services businesses, better-than-average EPS growth outlook, and strong credit track record are no longer adequately reflected in its valuation," HSBC analyst Saul Martinez said Tuesday in a note to clients. The analyst added that "material multi-year ROE expansion is now less clearly priced in for universal banks," largely because of investors' increased focus on "downside macroeconomic risks (weaker growth/higher inflation) and credit concerns, especially around lending to non-bank financial institutions (NBFIs) and private credit exposure." Bank of America's call falls in line with consensus on the Street. Of the 27 analysts covering the stock, 23 have a buy or strong buy on shares. The stock has fallen 10% since the beginning of this year, underperforming the overall market. — Liz Napolitano Stocks open higher on Wednesday The three major averages began Wednesday's session in the green. The S&P 500 rose 0.6% shortly after the opening bell, while the Nasdaq Composite advanced 0.7%. The Dow Jones Industrial Average climbed 363 points, or 0.8%. — Sean Conlon St. Louis Fed's Musalem sees rates steady 'for some time' St. Louis Federal Reserve President Alberto Musalem said Wednesday he believes interest rates should held steady amid a "highly uncertain" economic backdrop. "The real policy rate, that is, the nominal rate adjusted for expected inflation, was already in the neutral range before the recent increase in energy prices and has declined further since," he said in remarks before the American Enterprise Institute in Washington, D.C. "I also believe the current policy rate appropriately balances the risks to our dual mandate of maximum employment and stable prices and will likely remain appropriate for some time," he added. Musalem is a nonvoting participant at Federal Open Market Committee meetings this year. He will vote again in 2028. — Jeff Cox Oil prices fall to around $100 Crude prices declined on Wednesday, with U.S. West Texas Intermediate crude futures falling to around $100 per barrel, as investors assessed the possibility of an end to the Iran conflict within weeks. WTI futures were last down 1.40% at $99.96 a barrel, as of 8:50 a.m. ET. Brent futures were down 2% to $101.89 a barrel. — Anniek Bao Retail sales rose 0.3% in February, better than forecast Retail sales were better than expected in February as consumers kept up a solid pace of spending ahead of the Iran war, the Commerce Department reported Wednesday. The headline sales number rose 0.6% for the month, according to figures adjusted for seasonality but not inflation. Economists surveyed by Dow Jones had been looking for an increase of 0.5%. Excluding auto-related expenditures, sales rose 0.5%, compared to the 0.3% estimate. On an annual basis, sales were up 3.7%. Clothing and related sales rose 2% for the month, leading all categories. Other sectors seeing gains included health care (2.3%), sporting goods, music and book stores (1.3%), motor vehicles and parts (1.2%) and miscellaneous (1.1%). Food and beverage stores and furniture stores both reported drops of 1%. Control group sales, which excludes a number of items and feeds directly into GDP calculations, increased 0.5%. — Jeff Cox Nike, Dave & Buster's Entertainment, PVH among the stocks making moves before the bell Check out the companies making the biggest moves premarket: - Nike — The athletic apparel stock slumped 10% after its North American revenue came in at $5.03 billion, while analysts surveyed by LSEG had expected $5.04 billion. However, Nike posted fiscal third-quarter earnings of 35 cents per share and $11.28 billion in revenue. That exceeded the expected earnings of 28 cents per share and the anticipated $11.24 billion in revenue. The stock also was weighed by downgrades from JPMorgan, Bank of America and Goldman Sachs. - Dave & Buster's Entertainment — Shares rose 7% after management said the company expects an increase in same-store sales, revenue and adjusted earnings before interest, taxes, depreciation and amortization during 2026. Dave & Buster's posted a fourth-quarter adjusted loss of 35 cents per share and revenue of $529.6 million. Analysts polled by FactSet had expected a profit of 39 cents per share and $555.9 million in revenue. - PVH — The clothing company, which owns brands Tommy Hilfiger and Calvin Klein, added 1% after posting fourth-quarter adjusted earnings of $3.82 per share and revenue of $2.51 billion. Analysts had expected earnings of $3.31 per share and $2.43 billion in revenue, according to FactSet. Read the full list of stocks here. — Lisa Kailai Han and Davis Giangiulio Private sector hiring is better than expected in March, according to ADP Private sector employment growth was a bit better than expected in March, but health care and construction continued to provide nearly all the momentum, payrolls processing company ADP reported Wednesday. Job growth totaled 62,000 for the month, down just 4,000 from February's upwardly revised level but above the Dow Jones consensus for 39,000. ADP's report does not include government employees. Like February's report, two sectors essentially provided all the gains. Read more. — Jeff Cox Iran threatens attacks on Nvidia, Apple and other tech giants Iran's Islamic Revolutionary Guard Corps (IRGC) has threatened attacks on a swath of U.S. tech companies with operations in the Middle East, including Nvidia, Apple, Microsoft and Google. The IRGC warned on Tuesday that 18 tech companies would be considered as "legitimate targets" in retaliation for U.S. and Israeli strikes on Iran. Attacks on those companies would begin from 8 p.m. on Wednesday, April 1, Tehran time (12:30 p.m. EDT), the IRGC said in a post on Telegram translated by Google, warning employees at those companies to leave workplaces immediately to protect their lives. "From now on, for every assassination, an American company will be destroyed," they said in an IRGC-affiliated Telegram channel. Read more. — Kai Nicol-Schwarz Bitcoin ekes out March gain, snaps 5-month losing streak Tuesday's broad market rally lifted bitcoin into positive territory to close out March trading. The flagship cryptocurrency rose 2% on Tuesday to end the month up 1.43% at $67,802.36, per Coin Metrics. That was bitcoin's first positive month in six. However, it still ended the first quarter down 22.36%, marking its second straight quarterly decline and its first back-to-back drop since 2022. Similarly, ether rose more than 3% Tuesday, ending the month up 6.7% at $2,095.73 — its first positive month in seven. It also ended down 29.3% for the quarter, its second straight quarterly loss. — Tanaya Macheel and Gina Francolla Trump to deliver address on Iran President Donald Trump is set to deliver an address on the Iran war on Wednesday night, the White House said. This will come after Trump said Tuesday that the U.S. will "be leaving [Iran] very soon." — Fred Imbert European stocks rebound Shares listed in Europe kicked off the new trading month with a strong rebound, after notching their worst month since 2022 in March. Shortly after the opening bell, the regional Stoxx 600 was seen trading 2% higher, with all major bourses and sectors besides oil and gas stocks trading in the green. The moves come after President Donald Trump said Tuesday that American forces would leave Iran in "two or three weeks," adding that the U.S. would end its war "whether we have a deal or not." — Joseph Wilkins and Chloe Taylor Asia markets surge on hopes that Iran war could end soon Asia-Pacific markets rebounded on Wednesday, with major markets mostly closing in positive territory on hopes that the Iran war, which has crippled energy supplies to the region, could end soon. South Korea's Kospi led gains in Asia, surging 8.44% to end at 5,478.7. The rise was the Kospi's largest gain since March 5, while the small-cap Kosdaq climbed 6.06% to close at 1,116.18. Japan's Nikkei 225 rose 5.24% to 53,739.68, led by financial stocks, while the broad-based Topix added 4.95% and ended at 3,670.9. Hong Kong's Hang Seng index was up 1.88% in its final hour of trade, powered by basic materials stocks, while mainland China's CSI 300 rose 1.71% to end at 4,526.06. Australia's S&P/ASX 200 advanced 2.24% and finished at 8,671.8, driven by a rise in educational services stocks. — Lim Hui Jie Asia markets rebound on hopes Iran war could end soon Asia markets rebounded Wednesday after U.S. President Donald Trump signaled that the U.S. could leave Iran in about "two or three weeks." South Korea's Kospi led gains in the region, surging 6.3%, while the small-cap Kosdaq gained 5%, after data showed South Korean exports in March jumped 48.3% from a year earlier, beating Reuters poll estimates of 44.9%. Japan's Nikkei 225 rose 3.85%, led by financial stocks, while the broad-based Topix added 3.55%. Hong Kong's Hang Seng index gained 1.95%, powered by basic materials stocks, while the mainland Chinese CSI 300 rose 1.34%. Australia's S&P/ASX 200 advanced 1.7%, driven by a rise in educational services stocks. — Lim Hui Jie Crypto asset manager CoinShares to debut on Nasdaq Wednesday Crypto investment firm CoinShares will start trading on the Nasdaq Wednesday. CoinShares will make its public debut through a merger with Vine Hill Capital, a special purpose acquisition company. The deal, which closed late on Tuesday, was first announced in September and values the business at about $1.2 billion. Read more on CoinShares' debut from CNBC's Tanaya Macheel here. — Darla Mercado Energy is the only sector out of 11 to close March higher Of the 11 GICS sectors, energy was the only one to close March in positive territory. Month to date, the sector rose 10.3%. It closed the quarter with a 37.2% surge. March's biggest laggards were industrial stocks, down 8.5%, followed by the health care and consumer staples sectors, off 8.3% and 7.7%, respectively. — Lisa Kailai Han Stocks making the biggest moves after the bell: Nike, Dave & Buster's and more These are the stocks moving the most in extended hours trading: - Nike — The athletic apparel stock tumbled almost 9% after its North America revenue came in at $5.03 billion, while analysts surveyed by LSEG had expected $5.04 billion. The company also offered a weak sales outlook for its current quarter. - Dave & Buster's Entertainment — Shares rose 6% after management said the company expects an increase in same store sales, revenue and adjusted EBITDA during 2026. - RH — The home furnishings stock plunged 18%. RH said it sees full-year revenue growth ranging from 4% to 8%, missing the Street's estimate of 8.8%. Read the full list of stocks moving here. — Lisa Kailai Han Stock futures are little changed Stock futures traded just below flat on Tuesday night. Shortly after 6 p.m. ET, futures tied to all three major averages fell less than 0.1%. — Lisa Kailai Han

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President Donald Trump has made another bombastic pronouncement amid the war with Iran. On Tuesday, he shared a map labeling the Strait of Hormuz “NEW U.S. Territory,” via his Truth Social platform. Iran has continued to stress that the strait will not be fully reopened until Washington meets its slew of demands, including ending its blockade on Iranian shipping and scrapping oil sanctions.

Ship Hit in Strait Just hours before Trump’s latest post, a vessel exiting the Strait of Hormuz was struck by an unidentified projectile off the coast of Oman. According to the United Kingdom Maritime Trade Operations, the ship’s engine room was hit, resulting in a “crew casualty.

” Officials did not immediately identify the vessel or its cargo. The Omani Coast Guard said it was assisting the remaining crew as authorities investigated the incident. Iran’s Stranglehold on the Strait Since the United States and Israel launched attacks on the Islamic Republic on February 28, Iran has tightly restricted shipping through the waterway.

Prior to the war, around one-fifth of globally traded oil passed through Hormuz. Iranian parliamentary speaker Mohammad Bagher Qalibaf said Tuesday that Tehran would maintain its restrictions until Washington fulfilled what Iran considers its commitments under the interim U.

S.-Iran agreement struck in June. Those demands include lifting the U.S. blockade of Iranian ports, releasing frozen Iranian assets, removing sanctions on Iranian oil and gas exports, and ending U.S. military threats and operations. “Until the United States fulfills its commitments under the agreement … the Strait of Hormuz will not reopen,” Qalibaf said.

Blockade Vs. Territory Asked in the Oval Office on Monday about his earlier suggestion that Hormuz could become American territory, the president said he liked the idea. “We control it with the blockade, and I like the idea of declaring it a territory,” Trump told reporters, adding: “We have total control over the strait now.

” Washington’s blockade is hitting Iranian shipping hard. U.S. Central Command said Monday that American forces had redirected 64 commercial vessels, disabled three ships, and boarded another two as part of the renewed blockade. That does not mean Washington has eliminated Iran’s ability to disrupt other shipping.

Tuesday’s unexplained attack came after a string of strikes on vessels attempting to navigate the area. Iran’s Deputy Foreign Minister Kazem Gharibabadi also rejected Trump’s territorial claim on Tuesday, describing it as a “delusion.” Tehran has repeatedly maintained that it, rather than Washington, will determine when normal passage through the strait resumes.

Iran and Oman Near Deal Complicating matters further are separate negotiations between Iran and Oman, the two countries sitting on opposite sides of the strait. Iran said Monday that the two governments were finalizing details of an agreement concerning shipping routes through Hormuz.

Foreign Ministry spokesman Esmail Baghaei said an “understanding has been reached regarding the map of the transit route.” Trump responded by threatening Oman, a longstanding U.S. partner, telling Fox News that Washington would “bomb the shit out of them” if Muscat “gets in the way.

” The diplomatic clock has already run down. The 60-day negotiating period established by the June memorandum between Washington and Tehran expired on Monday without a broader agreement being reached. Trump has said the United States is not seeking an extension.

Tehran Likely to Double Down Columnist Melanie Phillips slammed President Trump’s plans for a ceasefire last month, complaining that it had given Tehran the upper hand and showed that “everyone can now see America is not prepared to make the sacrifices necessary to defend itself.

” Trump has claimed Iran has essentially lost this war and that the blockade is massively damaging its economy. However, he has also instructed his team to pursue a “low-key” approach to talks. On July 7, Trump said the agreement was “over”, while Iran’s Foreign Ministry said it was “suspended” the following week.

“They should put up the white flag of surrender,” Trump told Fox News on Monday, claiming that backchannel talks with the Islamic Revolutionary Guard Corps (IRGC) were ongoing. The IRGC has denied these claims. On Tuesday, Trump dramatically changed his tune, stating that no talks with Iran were ongoing, and that no discussions were scheduled.

About the Author: Georgia Gilholy Georgia Gilholy is a journalist based in the United Kingdom who has been published in Newsweek, The Times of Israel, and the Spectator. Gilholy writes about international politics, culture, and education.

Location: Tehran
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Iran War Day 172: ‘No Talks’ Scheduled with Tehran, Trump Says In a post on Truth Social Tuesday President Donald Trump said that “there are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran.” Trump added that the U.

S. naval blockade on the Strait of Hormuz “remains in full force and effect” and that the waterway “is open and operating.” In a separate post, Trump published an image labelling the strait as “NEW U.S. Territory.” Only six commodity ships transited the Strait of Hormuz on Monday, according to Kpler data cited by Reuters.

Iran’s Speaker of Parliament Mohammad Bagher Ghalibaf said Tuesday, Until the commitments made by the United States in the memorandum of understanding, including the lifting of the blockade, the release of frozen assets, the lifting of oil sanctions, the end of threats and military operations on all fronts, and other conditions to which America agreed in the memorandum, are implemented, the strait will not be opened.

The deadline for that memorandum of understanding—signed by Trump and Iran’s president in June—expired on Monday. The two nations had agreed to negotiate a final peace deal over a 60-day period, but the framework agreement quickly fell apart, and the deadline seemingly wasn’t extended, despite mixed reporting.

Subscribe Today Get daily emails in your inbox Ghalibaf will lead a “high-level parliamentary delegation” to Iraq on Wednesday, Iran’s Fars news agency reported. The visit comes as pro-Iran militia groups face a September 30 deadline set by the Iraqi government to disarm.

Syria condemned reported Israeli strikes against Abu Duhur airbase on Tuesday, while the U.S. expressed concern over the incident. U.S. Ambassador to Turkey and special envoy for Syria and Iraq Tom Barrack wrote on X that “we are deeply concerned that the confirmed Israeli airstrikes on Abu al-Duhur Airbase constitute an unnecessary escalation that does not advance regional stability.

” The price of Brent Crude oil was over $91 per barrel on Tuesday morning. AAA recorded the national average price of regular gas at $4.07.

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U.S. President Donald Trump said on Tuesday no talks were taking place with Iran and none were scheduled, and he insisted that the Strait of Hormuz was open, contradicting an earlier Iranian assertion that the critical waterway remained shut to shipping.

The receding prospects of a deal to end the nearly six-month conflict drove up oil prices again on Tuesday, while stock markets sagged and borrowing costs for major economies including the U.S. hit multi-decade highs, amid concerns about the long-term inflationary and fiscal impact of the crisis.

A temporary ceasefire agreement expired on Monday and a senior Iranian official told Reuters that his country was moving to a “fully offensive” military posture due to the diplomatic stalemate, though there were no reports of fresh strikes by either side on Tuesday.

“There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran,” Trump said in a post on Truth Social on Tuesday. “The Naval Blockade remains in full force and effect. The Hormuz Strait is open and operating. All water mines have been removed or detonated,” he added.

On Monday, Jared Kushner, Trump's son-in-law and special envoy, had sounded an optimistic note, saying talks with Iran were still under way and were “probably more robust” than they had ever been. Despite Trump's typically ebullient remarks about the situation in the Gulf, preliminary shipping data on Tuesday showed ship crossings via the Strait of Hormuz were still in single digits on Monday.

The United Kingdom Maritime Trade Operations said it received a report on Tuesday that a vessel was struck by an unknown projectile while transiting outbound in the Strait of Hormuz, causing engine room damage and a crew casualty. The remaining crew were being assisted by the Omani Coast Guard, according to the report.

Top Iranian negotiator Mohammad Baqer Qalibaf said in comments published by state media that the strait would remain shut until the U.S. met the conditions of an interim deal signed with Iran in June. These conditions include the U.S. lifting its blockade of Iranian ports, lifting oil sanctions, releasing Tehran's frozen assets, and ending threats and military operations on all fronts, Qalibaf told parliament.

A memorandum of understanding signed on June 17 had set a 60-day time frame for a broader deal on Iran's nuclear programme and U.S. sanctions. That period elapsed on Monday and Trump said he had no plans to extend it. The agreement, which declared the “immediate and permanent termination of military operations on all fronts,” had quickly unravelled over a dispute about control of the Strait of Hormuz, the narrow waterway through which a fifth of global oil and liquefied natural gas flowed before the war.

Both Trump and Tehran have frequently switched between threats and more emollient rhetoric as they seek a way out of the crisis, which erupted when the U.S. and Israel launched strikes against Iran on February 28. Iran remains open to dialogue with the U.

S. but does not confuse negotiations with surrender, Mohammad Mokhber, an adviser to Iran's supreme leader, said on Tuesday, according to the semi-official Fars news agency. Mokhber said military pressure and sanctions would not break Iran's resolve and that the country would defend its security, dignity and allies while not seeking war.

Even as Iran projects resilience in the war, its leaders are worried that a threat of more economic punishment could increase hardships, reignite unrest and further erode the Islamic Republic’s legitimacy, according to three Iranian officials. Thousands of people have been killed in the conflict, mainly in Iran and Lebanon.

Iran has bombed U.S. military bases and infrastructure in countries including Oman, Jordan, Kuwait, Israel, the United Arab Emirates and Saudi Arabia. Benchmark Brent crude oil futures have surged during the conflict, hitting a peak of $126 a barrel, roughly 75% above pre-war levels.

Brent crude futures settled up 20 cents on Tuesday at just over $91 a barrel. For Americans who will vote in November congressional elections, gasoline prices have risen above $4 per gallon, up from less than $3 before the war, according to the automotive group AAA.

Location: Tehran
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Iran is rebuilding the upper ranks of its military and security establishment after months of wartime losses by turning largely to familiar veterans — figures whose careers in some cases stretch back to the 1979 Islamic Revolution, the Iran-Iraq War and previous domestic crackdowns.

The appointments follow the deaths of several senior Iranian commanders in U.S.-Israeli strikes since the war began Feb. 28, The National reported Aug. 11. For Washington, the stakes go beyond who fills the vacancies. The reshuffle puts veteran hardliners atop institutions that shape Iran’s military operations, national-security policy and internal security at a time of renewed confrontation with the United States.

The appointments do not prove that Tehran has run out of younger commanders or that loyalty was the sole criterion, but the reliance on figures whose careers stretch back decades is raising a broader question for U.S. policymakers: whether wartime losses have left Iran increasingly dependent on a smaller circle of trusted ideologues — potentially narrowing the room for compromise even as Washington tries to pressure Tehran back toward a deal.

IRAN’S REVOLUTIONARY GUARD SIDELINES PRESIDENT AS MILITARY GRIP EXPANDS Former American prisoner Morad Tahbaz, who was detained in Iran in 2018 and freed in a U.S.-Iran prisoner exchange in September 2023, told Fox News Digital that he views the latest appointments as evidence of Tehran's continued dependence on longtime loyalists.

"They keep rotating the same old people, most of whom are fairly inept but are loyal to the Khamenei father and son," Tahbaz told Fox News Digital. The reshuffle spans Iran's conventional military, the Islamic Revolutionary Guard Corps, its naval arm, the Basij paramilitary force and the country's highest national-security council.

Iran's state-run IRNA reported Aug. 10 that Supreme Leader Mojtaba Khamenei appointed Ali Abdollahi chief of staff of the Armed Forces, Kioumars Heydari his deputy, Ahmad Vahidi commander of the IRGC, Mostafa Izadi deputy IRGC commander, Ali Ozmaei commander of the IRGC Navy and Hossein Taeb head of the Basij.

The previous day, former IRGC commander Mohsen Rezaei, 71, was named secretary of the Supreme National Security Council and Khamenei's representative on the powerful body. Reuters reported Aug. 10 that the SNSC coordinates Iran's security and foreign policy and that Rezaei replaced Mohammad Baqer Zolqadr, who had been appointed secretary in late March following the death of his predecessor, Ali Larijani.

The appointments do not establish that Iran has run out of younger or less familiar commanders. But the reliance on longtime military and security figures has fueled assessments that wartime losses have narrowed the regime's pool of officials it regards as sufficiently experienced and politically trustworthy.

Erfan Fard wrote for the Middle East Forum on Aug. 15 that Khamenei was not promoting a new generation but turning to veterans of the revolution, the Iran-Iraq War, intelligence operations and domestic repression, arguing that an architecture based on "institutional memory, loyalty, and coercive power" was taking shape.

The Foundation for Defense of Democracies argued in an Aug. 12 policy brief that the reshuffle looked "less like renewal than a game of musical chairs among regime veterans." The appointments also formalized the position of Ahmad Vahidi, a veteran hardliner who had already emerged near the center of wartime decision-making.

Vahidi was a major player in shaping Tehran's wartime policy and had risen through the IRGC's early intelligence and external-operations apparatus before later serving as defense and interior minister. As interior minister, Vahidi oversaw police units involved in the crackdown on the 2022 protests.

IRNA confirmed Aug. 10 that Khamenei promoted Vahidi to major general and formally appointed him commander-in-chief of the IRGC. WHO IS AHMAD VAHIDI? IRAN’S NEW IRGC CHIEF TIED TO GLOBAL ATTACKS AND ‘DEATH TO AMERICA’ IDEOLOGY Hossein Taeb: The intelligence veteran returns to the Basij to build a ‘20-million-strong Basij force.

’ One of the most closely watched appointments is Hossein Taeb, the cleric and veteran security official tapped to lead the Basij, the IRGC's volunteer paramilitary force that has repeatedly been used against domestic dissent. The National reported that the Basij has been used to suppress internal dissent, while The Times reported Aug.

12 that the force is embedded in neighborhoods, universities, workplaces, factories, ministries and mosques and has played a central role in suppressing successive uprisings. For Tahbaz, Taeb's return is personal. Tahbaz was detained in 2018, while Taeb was leading the IRGC Intelligence Organization.

"Ta’eb is extremely close to Mojtaba Khamenei but was very unceremoniously fired from his former position as head of the IRGC Intelligence Organization," Tahbaz told Fox News Digital. "He was personally responsible for my and my colleagues' arrests and detentions.

He lives and breathes conspiracy theories." The Times reported Aug. 12 that Taeb and Mojtaba Khamenei's relationship dates back more than four decades and that both served in the Habib Battalion during the Iran-Iraq War. The newspaper also reported that IRGC intelligence arrested environmentalists and dual nationals during Taeb's tenure.

Taeb previously commanded the Basij before moving into IRGC intelligence. The Times reported that months after the disputed 2009 election, the Guards' intelligence division was elevated into an independent organization with Taeb as its first chief. Taeb's earlier leadership of the Basij also drew U.

S. sanctions. In a Sept. 29, 2010 Treasury Department fact sheet, the U.S. government said that while Taeb commanded the Basij during the June 2009 election, forces under his command participated in "beatings, murder, and arbitrary arrests and detentions of peaceful protestors.

" According to IRNA, Parliament Speaker Mohammad Bagher Ghalibaf congratulated Taeb on his appointment as head of the Basij Organization, saying his tenure could mark a new chapter for the volunteer force. Ghalibaf said the Basij now needs a more comprehensive and forward-looking approach and argued that Taeb’s appointment by the supreme leader could help advance what he described as one of Ayatollah Ruhollah Khomeini’s longstanding goals: building a 20-million-strong Basij force.

UN WATCHDOG SLAMS POTENTIAL ELECTION OF IRAN TO PANEL WITH HUMAN RIGHTS SWAY: 'LUNATICS RUNNING THE ASYLUM' Mohsen Rezaei: Back at the center after four decades Few appointments better illustrate the return of Iran's old guard than Mohsen Rezaei, who was named secretary of the Supreme National Security Council.

Reuters reported Aug. 10 that Rezaei joined the IRGC shortly after the 1979 revolution, became its commander in 1981 at age 27 and led the force for 16 years, including through most of the 1980-88 Iran-Iraq War. He later served as secretary of Iran's Expediency Discernment Council for more than two decades and as vice president for economic affairs from 2021 to 2023 under President Ebrahim Raisi.

Now, at 71, he is secretary of the SNSC and Khamenei's representative on the body. Beni Sabti, an Iran expert at Israel's Institute for National Security Studies, argued that bringing back longtime figures such as Rezaei reflects weakness rather than renewal.

"This is, again, another evidence that they don't have anyone else," Sabti told Fox News Digital. "So they have to bring him out again from the desk and put him somewhere. These are the guys that they have." Rezaei and Vahidi were also among six people for whom INTERPOL authorized Red Notices requested by Argentina in 2007 in connection with the investigation into the 1994 bombing of the AMIA Jewish community center in Buenos Aires.

INTERPOL said in November 2007 that its General Assembly upheld the publication of notices for six individuals, including Ahmad Vahidi and Mohsen Rezaei, after Iran challenged Argentina's requests. Sabti argued that Rezaei's re-emergence is particularly telling because Tehran's decision-making circle has become less ideologically diverse.

"Today, there is only one opinion, and this is the main problem," Sabti said. "This is why you think that there is unity and the system is stronger. No, it's not stronger. Actually, it's weaker also because of that." TRADE VESSEL STRUCK BY PROJECTILE IN STRAIT OF HORMUZ AMID US-IRAN TALKS Ali Abdollahi: A wartime commander takes the top military job Ali Abdollahi was elevated to chief of staff of Iran's Armed Forces, putting him at the top of the country's military command structure.

IRNA confirmed the appointment Aug. 10. Abdollahi had previously commanded the Khatam al-Anbiya Central Headquarters, Iran's joint operational command responsible for coordinating its armed forces in wartime, according to Iran International on Aug. 10.

His appointment also comes amid an effort to integrate the Khatam al-Anbiya Central Headquarters more closely with the Armed Forces General Staff. Le Monde reported Aug. 11 that Abdollahi's task includes completing that integration in an effort to further centralize command and coordination.

Fard argued in his Aug. 15 Middle East Forum analysis that Abdollahi's elevation exemplifies Tehran's reliance on longstanding revolutionary-security figures rather than a generational break. FREED AMERICAN REVEALS BRUTAL IRAN PRISON ORDEAL, WARNS HOSTAGES FACE GREATER DANGER Kioumars Heydari: The regular army moves closer to the center Former Army Ground Forces commander Kioumars Heydari was appointed deputy chief of staff of the Armed Forces, bringing a senior officer from Iran's conventional military into the new command structure.

The National reported that Heydari formerly commanded the Army Ground Forces and has held senior positions in Iran's regular army, known as the Artesh. IRNA independently confirmed his appointment. His inclusion also demonstrates that the reshuffle is not limited to the IRGC.

Fard argued in the Middle East Forum that Heydari's previous public rhetoric surrounding protest suppression indicates that Tehran has increasingly integrated the regular army into its domestic-security posture. Mostafa Izadi: Another veteran rises inside the IRGC Mostafa Izadi was appointed Vahidi's deputy, putting another longtime commander near the top of the IRGC hierarchy.

IRNA confirmed Izadi's appointment Aug. 10, while The National described him Aug. 11 as a veteran commander who has held a number of senior positions in Iran's military and security establishment. Iran International reported that Izadi previously commanded the Cyber and New Threats Headquarters within the Khatam al-Anbiya Central Headquarters.

IRAN HARDLINER BEHIND US DEAL WARNS TEHRAN WON’T HONOR AGREEMENT IF TRUMP FAILS TO DELIVER Ali Ozmaei: A new commander at one of Iran's most sensitive fronts Rear Adm. Ali Ozmaei was appointed commander of the IRGC Navy, putting him in charge of a force central to Iran's military posture in the Persian Gulf and Strait of Hormuz.

The National reported Aug. 11 that Ozmaei replaced Alireza Tangsiri, who was killed in an Israeli airstrike in March, and that the IRGC Navy is responsible for Iran's military operations in the Gulf and around the Strait of Hormuz. Iranian state media also highlighted Ozmaei's longstanding maritime experience.

IRNA reported Aug. 11 that Parliament Speaker Mohammad Bagher Ghalibaf praised Ozmaei's years in maritime defense and his familiarity with the current conflict and the Strait of Hormuz. The appointment came one day before Rezaei said the Strait of Hormuz would remain closed unless the United States changed its behavior and accepted Iran's conditions.

Reuters reported that Rezaei said Washington would have to end the war and unfreeze Iranian funds overseas, with other conditions relayed through mediators. Taken together, the seven personnel changes show Tehran moving to fill and reshuffle critical military and security posts after significant wartime losses.

What remains an assessment rather than an established fact is whether the identities of those chosen reveal a deeper shortage of trusted successors. Sabti said the return of veteran figures reflected what he sees as a shrinking bench of trusted officials and a less diverse decision-making circle.

Tahbaz offered a less academic version of that assessment. CLICK HERE TO DOWNLOAD THE FOX NEWS APP "They keep rotating the same old people," he said.

Location: Tehran