Federal Reserve Governor Barr said he is optimistic that AI will boost productivity over the long term.

Goolsbee said he is among the more optimistic members on the Federal Reserve's dot plot.

Iranian deputy foreign minister Araghchi said he expects a final US response to Tehran’s Strait of Hormuz proposal to be transmitted via a Qatari intermediary before Tuesday, signalling the diplomatic channel remains open. Oil initially jumped more than $4 on Monday after Trump rejected Iran’s offer but later gave back most gains as hopes for resumed talks resurfaced; prices rose again today on lingering supply concerns. A US reply that signals negotiation progress could prompt markets to quickly pare the Hormuz-related risk premium and weigh on crude; a breakdown in talks would leave markets facing the same unresolved supply risk seen in recent months.