Trump shelves planned Iran strike; U.S.-Iran talks to begin Monday
What happened
President Trump has shelved the planned weekend strike on Iran and said U.S.-Iran talks will begin Monday, walking back Saturday's warning that the U.S. could strike as soon as Sunday. Asked by reporters whether the U.S. would attack Iran on Sunday, Trump said there would be no strike that day, while keeping future military options open and framing the choice as between 'finishing it off' and making a deal. The shift followed intensive weekend diplomacy: Qatari officials engaged Iran, the U.S. and Oman, reportedly telling Trump on Saturday that Tehran had accepted a proposal regarding the Strait of Hormuz, and Saudi Crown Prince Mohammed bin Salman called Trump to urge against military action. No strikes were recorded overnight into Sunday, though Iranian military leaders rejected Trump's characterization of progress and a Tehran-linked source told Fars News Agency no formal accord on the strait had been reached.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- Energy/oil majors and refiners (relief if crude eases: ExxonMobil XOM, Chevron CVX — both report Friday Oct 30)
- Defense (Lockheed Martin LMT, RTX — de-escalation removes a near-term demand tailwind)
- Airlines and transports (fuel-cost relief: Delta DAL, United UAL, American AAL)
- Broad market / S&P 500 and Nasdaq (risk sentiment into a Fed + hyperscaler-earnings week)