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. <\/p>\n
Evelyn Hockstein | Reuters<\/p>\n
Hello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.<\/p>\n
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.<\/p>\n
From geopolitical worries to markets: SpaceX rose after the first tranche of its locked-up shares expired Thursday, increasing the volumes available for trading. <\/p>\n
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.<\/p>\n
What you need to know today<\/p>\n 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.<\/p>\n Iran\u00a0reportedly revealed<\/a>\u00a0its plan for ships transiting the Strait of Hormuz, with U.S. and Israeli vessels barred from using the waterway.<\/p>\n 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.<\/p>\n 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.”<\/p>\n Oil prices climbed<\/a>\u00a0on this development, having declined earlier this week. Brent futures\u00a0climbed 3.8% to close at $82.49 per barrel Thursday, while U.S.\u00a0West Texas Intermediate<\/a>\u00a0gained about 2.8% to settle at $77.29. Oil was trading over 1% higher on Friday in Asia trading.<\/p>\n 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,\u00a0rose to a record high<\/a>\u00a0of around $6.90 a pound Thursday, due to supply constraints and a rising demand for electrification.<\/p>\n Away from Iran, the focus will be on\u00a0SpaceX<\/a>\u00a0as its first tranche of locked-up shares\u00a0have become available for trading,\u00a0<\/a>with the stock rising on Thursday. Shares are about 50% off its high from mid-June. \u00a0<\/p>\n Elsewhere in the tech sector,\u00a0Softbank shares came under pressure<\/a>, extending losses and dipping nearly 5% in early trade Friday, as an earnings beat failed to lift investor sentiment on the AI play.<\/p>\n \u2014 Lim Hui Jie<\/p>\n And finally…<\/p>\n