{"id":62504,"date":"2026-05-29T13:38:18","date_gmt":"2026-05-29T17:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/iran-denies-finalized-us-deal-amid-conflicting-reports-feds-daly-sees-ai-productivity-green-shoots\/62504\/"},"modified":"2026-05-29T13:38:18","modified_gmt":"2026-05-29T17:38:18","slug":"iran-denies-finalized-us-deal-amid-conflicting-reports-feds-daly-sees-ai-productivity-green-shoots","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/iran-denies-finalized-us-deal-amid-conflicting-reports-feds-daly-sees-ai-productivity-green-shoots\/62504\/","title":{"rendered":"Iran Denies Finalized US Deal Amid Conflicting Reports; Fed\u2019s Daly Sees AI Productivity &#8220;Green Shoots&#8221;"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Iran\u2019s Foreign Ministry denies a finalized agreement with the United States<\/strong>, despite reports of a preliminary &quot;political understanding&quot; and conflicting claims regarding nuclear provisions.<\/li>\n<li><strong>Federal Reserve Bank of San Francisco President Mary Daly<\/strong> projects that AI will drive productivity growth without causing mass unemployment, citing regulatory hurdles as the primary barrier to adoption.<\/li>\n<li><strong>The US Baker Hughes Rig Count rose to 562<\/strong> for the week ending May 29, driven by a <strong>4-rig increase in oil-directed drilling<\/strong>, signaling steadying activity in the Permian and beyond.<\/li>\n<li><strong>The NY Fed GDP Nowcast for Q2 was revised downward to 2.50%<\/strong> from a previous estimate of 2.61%, suggesting a slight cooling in economic momentum.<\/li>\n<li><strong>Russian President Vladimir Putin<\/strong> expressed readiness to continue negotiations regarding the conflict in Ukraine, though market skepticism remains high.<\/li>\n<\/ul>\n<h2>Iran Denies Finalized Deal, Asserts Control Over Strait of Hormuz<\/h2>\n<p>Iran\u2019s Foreign Ministry spokesperson, <strong>Esmaeil Baghaei<\/strong>, stated on Friday that <strong>no agreement has been finalized with the United States<\/strong>, cooling market speculation of an imminent diplomatic breakthrough. While a senior Iranian source suggested a <strong>&quot;political understanding&quot;<\/strong> has been reached, officials emphasized that significant disagreements persist across several key issues.<\/p>\n<p>Adding to regional tensions, Baghaei asserted that the management of the <strong>Strait of Hormuz<\/strong>\u2014a critical chokepoint for global oil transit\u2014must be decided solely by <strong>Iran and Oman<\/strong>. Conflicting reports also emerged regarding the scope of potential talks; while some sources claimed a draft agreement includes provisions for Iran to forgo nuclear weapons and end the war in Lebanon, other Iranian insiders dismissed these claims as &quot;not true,&quot; stating a possible Memorandum of Understanding (MoU) <strong>would not include nuclear-related issues<\/strong>.<\/p>\n<h2>Fed\u2019s Daly Optimistic on AI; NY Fed Trims GDP Forecast<\/h2>\n<p>Federal Reserve Bank of San Francisco President <strong>Mary Daly<\/strong> offered a bullish outlook on the integration of Artificial Intelligence in the workforce. Daly stated she does <strong>not anticipate mass unemployment or displacement<\/strong> from the technology, instead highlighting &quot;green shoots&quot; for <strong>productivity growth<\/strong>. She noted that the current barriers to maximizing AI\u2019s economic impact are <strong>largely regulatory<\/strong> rather than technological.<\/p>\n<p>Simultaneously, the <strong>New York Fed<\/strong> updated its <strong>GDP Nowcast for the second quarter to 2.50%<\/strong>, down from the <strong>2.61%<\/strong> reported in the previous week. This marginal decline reflects <em>shifting economic data points<\/em> as the Fed continues to monitor the balance between cooling inflation and maintaining labor market strength.<\/p>\n<h2>Energy Markets: Rig Counts Rise as Putin Signals Openness to Talks<\/h2>\n<p>The US energy sector saw a modest uptick in activity according to the latest data from Baker Hughes (<a href=\"\/stock\/BKR\">BKR<\/a>). The <strong>total rig count reached 562<\/strong> for the week of May 29, up from 558. This growth was entirely supported by <strong>rotary oil rigs, which climbed to 429<\/strong>, while gas rigs remained unchanged at 125. This increase suggests <em>resilient domestic production<\/em> despite fluctuating global crude prices.<\/p>\n<p>In broader geopolitics, <strong>Russian President Vladimir Putin<\/strong> stated that Russia remains <strong>&quot;ready to continue talks on Ukraine.&quot;<\/strong> While the statement provided a brief moment of hope for de-escalation, <em>international markets remain cautious<\/em> as previous overtures have failed to result in a formal ceasefire or significant diplomatic progress.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Iran\u2019s Foreign Ministry denies a finalized agreement with the United States, despite reports of a preliminary &quot;political understanding&quot; 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