S&P 500 futures remained stable on Sunday evening as investors doubted the imminent conclusion of a deal between the United States and Iran to open the Strait of Hormuz, a strategic maritime route for oil. Iran denied any direct negotiations with Washington, which reversed market optimism, while WTI crude oil prices rose 1% to cross above $79 per barrel. US July payrolls came in below expectations, boosting hopes that the Federal Reserve will delay rate hikes in September, with the probability falling to 44% from 67% a week prior. The three major stock indices recorded their best week since April, with the S&P 500 closing at an all-time high.
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