BREAKING: The S&P 500 rises on reports that talks between the US and Iran have entered a "technical stage," per Al Jazeera.
Details include:
1. Negotiations in New York have reportedly moved beyond initial diplomatic contacts into a "more detailed technical phase"
2. Technical experts joined the discussions in New York after a first meeting involving US envoys Witkoff and Kushner
3. Iran's proposed 7-day plan to reopen the Strait of Hormuz if the US ends its blockade is being discussed as an accelerated version of a previously discussed 60-day process
4. Both sides also continue to discuss other arrangements for the Strait of Hormuz
Oil prices are pulling back on the news.