investingLive Americas market news wrap: US and Iran officials meet at UN

Recap: US and Iran meet in New York on UNGA sidelines, Hormuz conditions on the table Trump and Bessent talk about a diesel export ban. Also says spoke with Iran for 3 hours Fed's Barkin says he thinks the hiking cycle could be like the Greenspan "mid-cycle adjustment" US treasury sells $69 billion of two-year notes at a high yield of 4.787% Richmond Fed’s Barkin says inflation risks outweighed employment risks in last week’s rate hike Trump: I believe we will make a deal with Iran right after US election Fed's Williams doesn't comment on monetary policy or economic outlook US September Richmond composite index -2 vs +4 prior EU Consumer Confidence (flash) for September -16.5 vs -16.0 estimate Fed's Collins: With jobs market on a better footing, can focus on price stability Markets: Gold up $22 to $4364 US 10-year yields down 6 bps to 4.96% WTI crude oil down $3.36 to $89.02 NZD leads, CAD lags S&P 500 flat, Nasdaq up 0.8% Eyes were on Iran with officials converging in New York at the UN. Early in the day, there was a Japanese report suggesting Iran would reopen the Strait in exchange for the US lifting the blockade. That sounded like something of a capitulation and was followed by multiple denials that reversed the losses in oil. That momentum continued when Trump once again (at the UN) said a deal could come after the midterms. However a short time later, Trump reappeared to say there was a 3-hour meeting between US and Iranian officials that went well with another to follow. Leaks from that meeting are all over the place with some hinted that the old MOU is still the basis for Iran's discussion, while others suggesting more leeway. With that, oil slumped again late and risk assets did a bit better while the US dollar softened. The entire day was basically a back-and-forth on Iran rippling through markets but Barkin's comments suggested the Fed is considering a mid-cycle adjustment, or something akin to the 75 bps move in the mid-1990s. Stock markets continue to t