[New York Stock Market] Oil Prices Fall for Second Consecutive Day... Nasdaq Hits New Intraday High

Expectations for Reopening of the Strait of Hormuz

As international oil prices have fallen for two consecutive trading days, the three major U.S. stock indexes were all on the rise on September 22 (local time) in the New York stock market. The Nasdaq index once again set a new intraday record high.

As of 9:37 a.m. at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average was trading at 52,118.26, up 69.43 points (0.13%) from the previous trading day. The large-cap S&P 500 index climbed 15.01 points (0.19%) to 7,779.71, while the tech-focused Nasdaq index rose 114.92 points (0.43%) to 27,237.01.

On this day, investor sentiment toward risk assets expanded on expectations that disruptions in oil supply could ease. Oil prices fell following reports that Iran proposed it would reopen the Strait of Hormuz within seven days if the U.S. takes initial steps to reduce military pressure. The United States has not accepted these conditions or agreed to the reopening of the strait.

The possibility of dialogue between the United States and Iran is also being discussed. CNN, citing U.S. officials, reported that U.S. President Donald Trump wants to meet with the Iranian side in New York, where the United Nations General Assembly is being held. The Iranian delegation to the United Nations is led by President Masoud Pezeshkian and includes Foreign Minister Abbas Araghchi.

However, there are no scheduled talks between the United States and Iran, and it is also unclear whether the Iranian side is open to dialogue, the official added.

U.S. Secretary of State Marco Rubio also mentioned in an interview with NBC that talks with Iran could be resumed during the high-level session week of the UN General Assembly. He said, "At this point, nothing is scheduled," but emphasized, "If there is a prospect that this could lead to a positive outcome, and ultimately help us achieve the key goal in all of this, we are definitely open to it (dialogue)."

He added, "That goal is to ensure that Iran can never acquire nuclear weapons." Previously, the Iranian government also suggested the possibility of dialogue with the United States during this UN General Assembly session.

As a result, on the New York Mercantile Exchange, October West Texas Intermediate (WTI) crude fell 1.70% from the previous session to $94.15 per barrel. November Brent crude on the ICE Futures Exchange was down 1.67% to $98.66 per barrel. If both benchmarks close at these levels, it will mark five consecutive trading days of declines. 

Meanwhile, the market is closely watching the upcoming summit this week between U.S. President Donald Trump and Chinese President Xi Jinping, as well as remarks from the presidents of the New York and Richmond Federal Reserve Banks.

By sector, technology and semiconductor stocks are on the rise. Nvidia is up 0.12%, Intel 0.33%, Micron Technology 1.76%, TSMC 0.24%, and SK hynix ADR Boost 2.28%.

This content was produced with the assistance of AI translation services.