On Monday, May 26th, 2025, the New York Stock Exchange and Nasdaq (and other equity exchanges) markets will be closed for Memorial Day.

However, CME Globex futures will have extended trading hours from Sunday, May 25th, at 6:00 PM (ET), and again from 6:00 PM (ET) on Monday, May 26th:

• This includes the E-mini S&P 500 futures (ES) and Nasdaq futures contract (NQ) (and others).

Full details can be found at the CME website. Interest rates and more will also open for Sunday evening trade.

This article was written by Eamonn Sheridan at www.forexlive.com.

The nuclear talks between Iran and the US were preceded by blunt remarks from Iran’s Foreign Minister Abbas Araghchi on Friday:

The talks concluded with no deal, of course, but were described as constructive, Via various media reports:

Iran:

• “We have just completed one of the most professional rounds of talks... We firmly stated Iran‘s position... The fact that we are now on a reasonable path, in my view, is itself a sign of progress.”

US:

• talks lasted more than two hours
• both direct and indirect with Omani mediators
• “The talks continue to be constructive — we made further progress, but there is still work to be done. Both sides agreed to meet again in the near future.”

No timing was set for the next round of talks.

This article was written by Eamonn Sheridan at www.forexlive.com.

Allianz Global Investors, USD650bn under management, is wary of US investment:

• “For investors, the message is clear: The US may no longer offer the reliable investment runway it did just months ago.”
• “Project economics, supply-chain commitments, and capital flows may now pivot toward more stable jurisdictions like Canada or the EU, unless clarity is quickly restored.”

Bloomberg (gated) carries the story. Bloomberg is gated but the 'in a nutshell' message from Allianz is that "European asset managers still have to contend with a new level of uncertainty and volatility that may ultimately force them to turn elsewhere".

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I doubt this is going to surprise anyone. When you are managing money you have an obligation to ensure capital preservation as bet you can, as well as return on investment. Chaotic policy making is not helping with this.

This article was written by Eamonn Sheridan at www.forexlive.com.