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Markets Rebound as Hopes for Iran–U.S. Dialogue Ease Geopolitical Tensions

U.S. stock futures edged higher on Wednesday as signs of potential diplomatic movement in the Iran–U.S. standoff helped calm volatile markets. Futures tied to the S&P 500 rose about 0.3%, the Nasdaq 100 gained 0.5%, and Dow Jones Industrial Average futures added 0.2% after a turbulent prior session.  The shift in sentiment followed reports that Iran has quietly approached the United States to discuss terms for ending the escalating conflict , a development that helped cool fears of further disruption in global energy markets. This diplomatic signal contributed to a rebound after Tuesday’s sharp sell-off, when concerns over widening conflict and rising oil prices rattled investors.  The conflict, now in its fifth day, has seen continued strikes and mounting casualties, adding to market unease. Iran is preparing for the funeral of Supreme Leader Ali Khamenei, killed in recent attacks, while regional tensions remain high.  Despite the ongoing uncertainty, Wednesda...
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How Enbridge, Open Text and other stocks moved on Wednesday


The stock market saw some notable movements on Wednesday, as several companies reported their earnings or made strategic announcements. Here are some of the highlights:

  • Enbridge (ENB-T) rose 1.2 per cent after it forecast higher core earnings and raised its dividend for 2024. The pipeline operator expects higher demand and volumes across its network, as well as lower costs and capital spending. The company also said it had secured funding for over 75 per cent of its US$9.4-billion bid to buy three utilities from Dominion Energy.
  • Open Text (OTEX-T) increased 1 per cent after it sold off a mainframe-computer business it acquired earlier this year from Micro Focus for US$2.275-billion. The company said it would use the proceeds to improve its financial position and focus on its cloud and artificial intelligence businesses. Analysts said the divestiture would enhance Open Text’s valuation and profitability.
  • Alimentation Couche-Tard (ATD-T) slid 3.2 per cent despite reporting stronger-than-expected second-quarter results The convenience store and gas station operator saw solid fuel margins and cost control, but also faced softening in U.S. same-store sales due to lower cigarette sales and consumer spending. The company tightened its full-year profit outlook.
  • First Quantum Minerals (FM-T) sustained further declines after Panama’s president said its copper mine Cobre Panama would be shut down, following a Supreme Court ruling that declared its contract unconstitutional The company said it had suspended commercial production at the mine and was putting it into care and maintenance. The ruling puts the company on the long and unpredictable road of international arbitration.
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