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There was a rotation out of big tech that weighed on the S&P and Nasdaq, offsetting news of the U.S. waiving Iran oil sanctions for 60 days.
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President Trump and Vice President JD Vance pointed to progress on Iran's nuclear program, but officials in Tehran said "no new commitments" had been made.
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Oil rises slightly early Tuesday as investors continue to assess the latest developments in the Middle East, while showing optimism the conflict may end soon.
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The discussions at the Swiss resort of Bürgenstock marked the first negotiations since Washington and Tehran signed a memorandum of understanding last week.
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