(The opinions expressed here are those of the author, a

columnist for Reuters.)

By Mike Dolan

March 25 -

What matters in U.S. and global markets today

By Mike Dolan, Editor-At-Large, Finance and Markets

There were some glimmers of hope in the energy markets on

Wednesday as oil prices slipped back and stocks caught a break

after Iran indicated to the UN that it would allow some ships

from non-combatant countries to pass through the Strait of

Hormuz.

Meantime, Washington continued to talk up the chances of

negotiation, with reports circulating of a 15-point plan

involving a month-long ceasefire. Iran continues to deny any

talks are underway, however, and missiles continue to fly around

the region.

I'll get into that and more below.

But first, check out my latest column on how Gulf states' shaken

faith in U.S. military protection could ripple through the

petrodollar system.

And catch today's episode of the Morning Bid podcast, where I

discuss oil's latest moves and what recent business surveys tell

us about how the real economy is absorbing the energy shock.

Subscribe to hear Reuters journalists discuss the biggest

news in markets and finance seven days a week.

FIFTEEN POINTS TO PONDER

Amid all the conflicting Iran war headlines coming out, traders

appear to be choosing to look on the bright side. Brent crude

eased to as low as $98 per barrel on Wednesday, while U.S. crude

hovered around $88.

Asian equities closed comfortably up, meantime, with South

Korea's KOSPI gaining around 1.5% and Japan's Nikkei nearly 3%.

European shares rose by more than 1% after the open, while U.S.

futures were up before the bell.

And in another sign of the buoyed sentiment, gold - which has

behaved more like a risk asset lately - was up by nearly 2% on

Wednesday morning as it benefited from a softer dollar and

easing concerns about higher interest rates.

Nevertheless, it's clear the war has caused a significant hit to

economic confidence. Tuesday saw the first sweep of business

surveys from March, which showed stalling private sector growth

in the eurozone, rising U.S. inflation fears and more.

Overall, uncertainty is the order of the day as it remains

unclear who exactly President Trump is negotiating with and

whether a swift alleviation of energy disruption can really be

secured. A spokesperson for the Iranian Armed Forces accused the

U.S. of negotiating with itself.

Elsewhere, private credit jitters continued as Ares joined

Apollo and other asset managers to become the latest to halt

redemptions after a wave of investors sought to exit certain

funds.

And in technology news, South Korean chipmaker SK Hynix is

reportedly planning to list in the U.S. in the second half of

2026, while Elon Musk's SpaceX could file for an IPO as soon as

this week or next week, according to The Information.

Chart of the day

According to a Reuters/Ipsos poll, only 29% of the country

approves of President Trump's economic stewardship, the lowest

rating in either of Trump's terms and lower than any economic

approval rating of his predecessor, Democrat Joe Biden.

Today's events to watch

* U.S. February import prices (4:30 PM EDT), Q4 current

account (4:30 PM EDT)

* U.S. 5-year and 7-year note auctions

* Fed's Stephen Miran speaks

* ECB President Christine Lagarde speaks

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Opinions expressed are those of the author. They do not reflect

the views of Reuters News, which, under the Trust Principles, is

committed to integrity, independence, and freedom from bias.