ASX 200 futures are pointing higher this morning.Oil fell overnight on hopes of a diplomatic off-ramp in the US–Iran conflict.Wall Street also edged up, with the S&P 500 adding 0.17 per cent in choppy trade.Follow the day's financial news and insights from our specialist business reporters on our live blog.Disclaimer: this blog is not intended as investment advice.PinnedFri 22 May 2026 at 7:26amFri 22 May 2026 at 7:26amMarket SnapshotBy Lin LinASX 200 futures: +0.5% to 8,687 pointsAustralian dollar: steady at 71.49 US centsWall Street: Dow Jones (+0.55%), S&P 500 (+0.17%), Nasdaq (+0.09%)Europe: FTSE (+0.11%)Spot gold: +0.15% to $US4,542/ounce Brent crude: -0.2% to $US104.80/barrel Iron ore: -1.2% to $US105.9/tonneBitcoin: +0.12% to $US77,611Prices current around 7am AESTCollapse all postsFilter PostsAll6Key Events1Market snapshot1Interest Rates1Fri 22 May 2026 at 8:45amFri 22 May 2026 at 8:45amUS yields ease on Iran deal progress, economic dataBy Lin LinUS government bond yields eased overnight after reports the US and Iran were getting closer to a peace deal.That matters because bond yields had recently surged to multi-year highs, with the 30-year Treasury yield briefly hitting its highest level since 2007. In simple terms, investors had been demanding a higher return to lend money to the US government because they were worried about inflation, oil prices, war risk and America’s growing debt burden.The move lower suggests some of that fear cooled, at least for now. If there is progress on a peace deal, oil prices may stay lower, which could reduce inflation pressure and take some heat out of bond markets.But the relief was limited. The two-year yield, which is more closely tied to expectations for Federal Reserve interest rates, still edged higher, and markets are now pricing in a chance the Fed could raise interest rates later this year.Fri 22 May 2026 at 8:17amFri 22 May 2026 at 8:17amOil lower amid uncertain US-Iran deal prospectsBy Lin LinOil prices closed about 2 per cent lower after a volatile session as traders tried to judge whether a US-Iran deal was still possible.Brent crude fell to $102.58 a barrel, while US WTI dropped to $96.35, with both settling at their lowest levels in nearly two weeks.Prices jumped earlier after media reports Iran was hardening its stance on enriched uranium and control of the Strait of Hormuz, a key route for global oil and gas shipments.But prices later reversed as Pakistan stepped up diplomatic efforts to get talks back on track.The uncertainty matters because any prolonged disruption through Hormuz could keep pressure on fuel prices, business costs and inflation.Fri 22 May 2026 at 7:58amFri 22 May 2026 at 7:58amICYMI: Australia’s jobs market is showing fresh signs of strainBy Lin Lin The unemployment rate rose to 4.5 per cent in April, up from 4.3 per cent in March, after the economy shed 18,600 jobs.The ABS figures show the number of unemployed people jumped by 33,000, with a fall in female employment driving the overall decline.HSBC chief economist Paul Bloxham told The Business that, when combined with weaker business confidence and consumer sentiment, the jobs numbers suggest the economy may be heading into a sharper downturn.Have a watch.Fri 22 May 2026 at 7:45amFri 22 May 2026 at 7:45amLet’s break down what happened on Wall StreetBy Lin LinUS stocks ended slightly higher after a choppy session, as oil prices fell and investors hoped diplomacy could prevent the US-Iran conflict from reigniting.The Dow hit a record close, while the S&P 500 and Nasdaq also edged up. But the mood was still cautious, with markets basically swinging on every headline out of the Middle East.Walmart dragged on consumer stocks after warning shoppers were under pressure from high fuel prices, while tech giant Nvidia slipped despite upbeat results, though chip stocks more broadly rose.There were also signs the US economy is still holding up, with jobless claims falling and manufacturing activity rising to a four-year high.Key EventFri 22 May 2026 at 7:26amFri 22 May 2026 at 7:26amASX set to rise, oil prices fall as investors hope for US-Iran dealBy Lin LinGood morning and happy Friday!Business reporter Lin Lin here with you to take you through the morning market moves and biggest business stories.After solid gains on Thursday, the ASX 200 futures are pointing up 0.5 per cent this morning.Oil prices fell overnight as markets bet there may still be a diplomatic path to stop the US-Iran conflict from reigniting.US crude dropped nearly 2 per cent to $US96.35 a barrel, while Brent fell more than 2 per cent to $US102.58, reversing earlier gains sparked by reports Iran's supreme leader had ordered enriched uranium to remain inside the country, a move seen as complicating talks with Washington.Over on Wall Street, hopes for a diplomatic way out of the Iran war lifted stocks though the trading was volatile. The S&P 500 extended this week’s advance, higher by 0.17%.I'll have plenty more news to take you through. For now, go and grab yourself a coffee or tea and see you back here soon!