Trump’s deal seems to be in dire straits
U.S. Treasury Secretary Scott Bessent speaks to reporters as U.S. President Donald Trump stands next to him aboard Air Force One en route to Tokyo, Japan, for the second stop on his Asia tour, Oct. 27, 2025.
Evelyn Hockstein | Reuters
Hello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.
U.S. President Donald Trump had said a deal with Tehran could come by Thursday stateside. There are a few more hours left, but given the rhetoric from Iran, that timeline will likely pass without an agreement.
From geopolitical worries to markets: SpaceX rose after the first tranche of its locked-up shares expired Thursday, increasing the volumes available for trading.
SoftBank shares fell even as it reported a profit beat on the back of gains from its Intel stake and a higher valuation for ByteDance.
What you need to know today
It is starting to look like the Iran deal with the U.S. is unlikely to be sealed soon, even as the Trump administration had signaled an agreement by Thursday.
Iran reportedly revealed its plan for ships transiting the Strait of Hormuz, with U.S. and Israeli vessels barred from using the waterway.
The restrictions will extend to “countries and individuals that have caused damage to Iran” until that harm is “compensated,” according to a report from state media Fars.
Washington rejected that plan, with a U.S. official telling CNBC that any temporary routes will be without any impediments: “no approvals or permissions and no tolls or charges.”
Oil prices climbed on this development, having declined earlier this week. Brent futures climbed 3.8% to close at $82.49 per barrel Thursday, while U.S. West Texas Intermediate gained about 2.8% to settle at $77.29. Oil was trading over 1% higher on Friday in Asia trading.
Oil is not the only key commodity that’s seeing an upsurge. Copper, the red metal used for construction, electronics, transportation and in AI applications, rose to a record high of around $6.90 a pound Thursday, due to supply constraints and a rising demand for electrification.
Away from Iran, the focus will be on SpaceX as its first tranche of locked-up shares have become available for trading, with the stock rising on Thursday. Shares are about 50% off its high from mid-June.
Elsewhere in the tech sector, Softbank shares came under pressure, extending losses and dipping nearly 5% in early trade Friday, as an earnings beat failed to lift investor sentiment on the AI play.
— Lim Hui Jie
And finally…
From birth to brokerage: Why South Korea is seeing a surge in infant investment accounts
South Korean parents are ramping up efforts to give their children a head start in building long-term wealth by opening investment accounts even before they learn to crawl out of their cribs.
Brokerage accounts of kids under the age of one have nearly tripled from a year ago to about 15,000 in June at Mirae Asset Securities, the country’s largest brokerage by market cap.
New accounts openings for…
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