US-Iran negotiations weighed on markets, with Nasdaq futures turning positive, US Treasury yields fluctuating at high levels, and gold and oil prices rising simultaneously.

US-Iran negotiations weighed on markets, with Nasdaq futures turning positive, US Treasury yields fluctuating at high levels, and gold and oil prices rising simultaneously.

Rising oil prices and growing expectations of a Federal Reserve rate hike pushed U.S. Treasury yields to multi-year highs, while global stock markets fell to a one-week low.

On Tuesday, the MSCI World Index fell 0.2%, hitting a new low since September 18. Nasdaq futures turned positive after falling as much as 0.5%, European stocks were mixed, and Japanese and South Korean stock indices closed lower. The 10-year US Treasury yield rose another 1 basis point to 5.25% after hitting its highest level since 2007 on Monday; the 30-year yield also rose 1 basis point to 5.56%.

Geopolitically, according to CCTV International News, the Iranian Foreign Minister will return to Tehran to await a response from the US. Brent crude oil rose for the second consecutive day, gaining 1.2% to $99; spot gold rose 0.7% to $4,145 per ounce. Rising oil prices, stronger US business activity, and concerns about high government debt have jointly triggered the largest sell-off of US Treasury bonds since April 2025. Soaring yields have pushed up borrowing costs, putting pressure on economic growth and corporate earnings prospects.

Chris Larkin of Morgan Stanley's E*Trade stated that the market lacks overall momentum due to rising yields and oil prices. Given the Federal Reserve's current focus on inflation, unless there are major surprises in this week's labor market data, the market is likely to continue to underperform interest rates and the energy market.

The core market trends are as follows:

Nasdaq futures turned positive after falling as much as 0.5%. US memory chip stocks rose slightly in pre-market trading, with Micron Technology up 1.6%, SK Hynix and SanDisk up 1.4%.The Euro Stoxx 50 index opened 0.27% higher, the German DAX index fell 0.13%, the UK FTSE 100 index rose 0.19%, and the French CAC 40 index rose 0.06%.The Nikkei 225 index closed down 0.6% at 65,481.27 points. The Topix index closed down 1.7% at 4,041.13 points. The KOSPI index closed down 0.27% at 6,870.81 points.The yield on the 10-year U.S. Treasury note rose 1 basis point to 5.25%.The Bloomberg Dollar Spot Index rose 0.1%.Spot gold rose 0.7% to $4,145 an ounce.Brent crude oil rose 1.2% to $99.

Nasdaq futures turned positive, while US Treasury yields fluctuated at high levels.

Nasdaq futures turned positive after falling as much as 0.5%. Kyle Rodda, senior market analyst at Capital.com, noted that strong corporate earnings will continue to support the stock market, offsetting pressure from rising bond yields and AI valuation risks.

This week, traders will be closely watching a series of U.S. economic data to determine whether the economy remains strong enough to support further tightening by the Federal Reserve. The consumer confidence index and August JOLTS job openings data will be released on Tuesday, followed by consumer spending and inflation data, with the non-farm payrolls report due on Friday.

The yield on the 10-year U.S. Treasury note rose to its highest level since 2007 on Monday, and then climbed another 1 basis point to 5.25% earlier today. Following the recent sell-off in the bond market, some investors are becoming bullish on the bond market.

Long-term bond investor Chris Iggo says the bond market is poised for a rebound after four difficult years. Wall Street veteran Jim Bianco is bullish on U.S. Treasuries for the first time in six years, stating, "This is value investing; if yields continue to rise, I will continue to buy."

Gold rebounded and crude oil rose as Iran confirmed it had conveyed its "7-day plan" to the US and is awaiting a response.

Gold prices rose 0.7% to $4,145 an ounce. Earlier, gold prices broke below the key support level of $4,230 during Asian trading hours, triggering a technical sell-off and further falling below the 50-day and 100-day moving averages, retreating to near August lows.

This round of decline was driven by multiple factors: rising US real interest rates to an 18-year high, concentrated position-closing by Chinese investors before the National Day holiday, and geopolitical uncertainty stemming from Trump's rejection of a ceasefire proposal with Iran. Goldman Sachs precious metals expert Adam Gillard pointed out that these factors combined to create "one-way downward pressure" on gold. Market focus will continue to be on ETF fund flows, a key variable in resisting current interest rate pressures.

Brent crude oil rose 1.2% to $99. Geopolitically, according to CCTV International News, citing Iran's Mehr News Agency today (September 29), Iranian Foreign Minister Araqchi, in a media interview that day, elaborated on one of his main objectives for attending the 81st UN General Assembly in New York: to convey Iran's position on the issue of war—particularly the Strait of Hormuz issue—to the world.

Araghchi also confirmed that he met again that day with Qatar, the mediator, and conveyed the "7-day plan" to the United States through Qatar. He is awaiting a formal response from the US through the mediator. When asked if he would remain in New York to await a US response, Araghchi stated that he would depart for Tehran, and that they would know how to relay a response from Qatar to Iran once it is received.

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