Global Stocks Pause Near Records as Hormuz Talks Stall, Oil Rises

People buy and sell small pieces of companies called shares in places known as stock markets.

Last Friday, the United States reported that in July the number of jobs went down by 23,000, even though experts had expected more jobs.

That might sound like bad news, but investors thought it meant the US central bank would keep interest rates steady, which can be good for stocks.

So US markets rose on Friday, and the S&P 500 finished at a new record.

On Monday, stock markets in Japan, South Korea and Hong Kong also opened higher.

But then investors became more careful, and US stocks barely moved on Monday.

A big reason is the Strait of Hormuz, a narrow waterway that many oil ships use; Iran and Oman are talking about reopening it, but no final deal has been signed.

Iran wants the United States to meet certain conditions, such as compensation, and that keeps oil prices high, around $78 to $82 per barrel.

High oil prices can make everyday things more expensive, so investors are waiting for more clarity.

In India, markets were expected to open higher at first, and then to start flat as investors stay cautious.