Global markets saw a mix of geopolitical, corporate, and asset-driven developments on Tuesday, as Donald Trump signaled possible progress in US-Iran talks, Amazon announced a major satellite acquisition, oil prices fell on easing supply concerns, and Bitcoin rallied alongside broader risk assets.
Trump hints at breakthrough in US-Iran talks
Trump indicated that diplomatic developments could be imminent, suggesting potential progress in efforts to bring the United States and Iran back to the negotiating table.
“You should stay there, really, because something could be happening over the next two days, and we’re more inclined to go there,” Trump told a New York Post reporter on assignment in Islamabad. “It’s more likely, you know why? Because the field marshal is doing a great job.”
He was referring to Pakistan Field Marshal Gen. Asim Munir, calling him “fantastic,” while downplaying Geneva as a potential venue for talks.
“Why should we go to some country that has nothing to do with it?” Trump said.
Trump also dismissed the idea of Iran pausing uranium enrichment for two decades, saying, “I’ve been saying they can’t have nuclear weapons. So I don’t like the 20 years.”
Amazon’s $11.6B Globalstar deal boosts satellite push
In corporate news, Amazon said it would acquire Globalstar in an $11.57 billion deal, marking a significant step in its satellite ambitions as it competes with SpaceX.
Globalstar shares rose about 9% in trading, while Amazon stock gained roughly 4%. The deal allows Globalstar shareholders to receive either $90 in cash or 0.3210 shares of Amazon stock per share.
The acquisition is expected to accelerate Amazon’s Leo satellite project, which has deployed more than 240 satellites since last April and aims to expand direct-to-device connectivity.
Amazon executive Panos Panay said the initiative targets underserved regions.
“There are billions of customers out there living, traveling, and operating in places beyond the reach of existing networks, and we started Amazon Leo to help bridge that divide,” he said.
He added that customers can expect “faster, more reliable service in more places,” with support for devices such as iPhone and Apple Watch through a collaboration with Apple.
Oil prices fall as supply concerns ease
Oil prices declined sharply as optimism over renewed US-Iran talks eased fears of prolonged supply disruptions tied to the Strait of Hormuz.
Brent crude fell 4.36%, to $95.04 a barrel, while US West Texas Intermediate dropped 7.4%, to $91.72.
Despite the pullback, supply risks remain significant. The International Energy Agency said the disruption has led to the loss of 10.1 million barrels per day in March.
“Resuming flows through the Strait of Hormuz remains the single most important variable in easing the pressure on energy supplies, prices and the global economy,” the IEA said.
Bitcoin rallies as risk appetite returns
Bitcoin surged to as high as $75,900 during US trading hours, marking its strongest level since early February. The cryptocurrency was recently trading near $74,185, supported by improving sentiment across financial markets.
Crypto-related stocks also advanced, including Coinbase, Strategy, Circle, and Galaxy Digital, while bitcoin miners posted gains led by Keel Infrastructure.
The rally coincided with a broader risk-on environment, with the Nasdaq rising and oil prices falling.
He noted that the $76,000 level remains a key resistance point for Bitcoin, with sustained strength needed for the rally to evolve into a more durable trend.
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