Company Interview / the open: ASX to slip as Strait of Hormuz remains closed 🚨

Global equity markets have rallied in response to the two-week ceasefire between the United States and Iran, while oil prices have rebounded somewhat after plummeting the most since 2020.The local market is set to lose some of Wednesday’s impressive gains, with ASX futures down 0.2%.It was risk-on for investors on Wall Street, with the major stock indices surging at the open. The S&P 500 jumped above its 200-day moving average and the Dow Jones registered its largest percentage gain in a year. The CBOE Market Volatility Index dipped to its lowest level since the beginning of the war.Iran and the United States have put forward contrasting agendas for talks aimed at finding a lasting peace in the region. The talks are due to take place in Pakistan on Saturday and will be led by US Vice President JD Vance and Iran's parliament speaker Mohammad Qalibaf. Natural gas futures posted their biggest decline in more than two years, down as much as 20%. Gold has climbed to a three-week peak. The US dollar has slumped, wiping out its gains for the year. The Australian dollar rose more than 1% to US70.4 cents.