CNBC Daily Open: Markets hold breath as Trump's Iran deadline nears
By Dylan Butts
Published on April 7, 2026.
U.S. President Donald Trump has a deadline for Iran to reopen the Strait of Hormuz by 8 p.m. ET on Tuesday, or face attacks on its power plants and bridges. Despite this, Trump has reiterated his threats, signalling a greater willingness to follow through. The S&P 500 rose for a fourth session as investors speculated on the possibility of de-escalation, but oil markets were less positive after Trump doubled down on his threats against Iran. Meanwhile, news emerged that the U.S., Iran, and a group of regional mediators were discussing terms for a potential 45-day ceasefire that could lead to a permanent end to the war. A Wall Street research firm sent an analyst directly into the conflict zone to observe shipping activity.
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