Morning Business Report: Dow closes at record high as investors await Strait of Hormuz shipping deal

Investors are closely watching negotiations between Iran and Oman over a potential agreement to reopen shipping through the Strait of Hormuz.

(LILAMAX)- Investors are closely watching negotiations between Iran and Oman over a potential agreement to reopen shipping through the Strait of Hormuz.

According to Iranian state media, the two countries are close to finalizing a route that would allow ships to safely pass through the strategic waterway. Under the proposed agreement, ships entering the Persian Gulf would travel through a channel controlled by Iran, while vessels leaving the Gulf would use a route near Oman.

The possibility of a deal helped lift investor optimism, with the Dow Jones Industrial Average closing at a record high for the third consecutive day. The Nasdaq, however, finished lower after stocks lost momentum late in the trading session.

Meanwhile, the U.S. Department of Education says some student loan borrowers mistakenly received notices claiming their accounts were past due.

The department says affected borrowers will receive emails explaining the error, adding that only a small number of borrowers were impacted as the Trump administration implements sweeping changes to federal student loan repayment programs.

A new Conference Board study also found Generation X remains the most pessimistic generation about the economy. Researchers say adults in their 40s and 50s face increasing financial pressures, while Gen Z and Millennials reported the highest levels of consumer confidence.

Economists are also monitoring what some describe as the “stay-at-home boyfriend” trend, citing data showing employment among men declined over the past year while employment among women increased. Analysts say slower hiring in industries such as manufacturing, technology, finance and media may be contributing to the shift.