Stock futures are lower and oil prices are higher this morning as investors digest the latest developments in the Iran war; Trump administration officials are reportedly evaluating scenarios as severe as oil reaching $200 a barrel; President Trump has reportedly told people close to him that he wants the war to end soon, preferring to focus on other priorities like the midterm elections coming up in November; a former CEO of Goldman Sachs is warning that the accumulation of unsold assets in private credit is creating a danger for markets; and furniture maker MillerKnoll said it expects its profits to take a hit because of the conflict in the Middle East. Here's what you need to know today. Stocks Move Lower as Optimism About Possible End to Iran War Fades Stocks are pointing to a lower open Thursday as a volatile week of trading continues amid a flurry of developments in the Iran war. Futures tied to the Dow Jones Industrial Average and S&P 500 were down 0.8% recently, while those connected to the Nasdaq fell 1%. All three indexes gained Wednesday amid optimism that the war could end quickly, as reports emerged that the Trump administration had sent a 15-point plan to Iran outlining what it would take to end the war. However, Iranian officials have been quick to reject claims from the U.S. that talks to end the war are ongoing. Brent futures, the global crude oil benchmark, were up 5% this morning at $107 per barrel, while WTI futures, the U.S. standard, rose 4% to $94. Gold futures were down more than 2% at $4,435 an ounce, while bitcoin was at $69,300, down from an overnight high of $71,500. The 10-year Treasury yield, which influences interest rates on a range of consumer loans, rose to 4.38% from 4.33% at yesterday's close, once again trading near its highest levels since last July. As Prices Rise, Trump Administration Reportedly Weighs Impact of $200 Oil While crude oil futures are surging again, officials in the Trump administration are discussing a range of scenarios, including oil reaching as high as $200 a barrel, according to Bloomberg. Oil prices have surged as a result of the war because the conflict has largely closed the Strait of Hormuz, a passageway that carries around 20% of the world's oil. Iran is reportedly looking to formalize its control over the Strait as a result of the war, as the Secretary General of the Gulf Cooperation Council said Iran is already starting to charge fees to allow ships to pass through safely during the war while its parliament drafts a bill that would make the tolls law, per the Associated Press. 1 2 Trump Wants Quick End to War While Iran Says No Plans to Negotiate President Trump has said that Iran is ready to talk with the goal of ending the war, but Iranian officials have been quick to dispute claims that ceasefire talks are ongoing, and has outlined its own priorities necessary for ending the war. 3  The Wall Street Journal reported late Wednesday that Trump has told people in the administration he wants the war to be over soon, with a goal of sticking to the original four to six week timeline that he initially estimated after the war started. Trump has reportedly told people close to him that the war is "distracting" his administration from some of its other goals, including this fall's midterm elections, which are vital for the White House as it could get more difficult to pursue Trump's priorities if Democrats win control of either or both of the House and Senate. 4  Early Thursday, Trump said that the Iranian negotiators are "begging" the U.S. to make a deal. 5  Meanwhile, Israel claimed it killed Iran's naval commander, Alireza Tangsiri, who had helped shut down the Strait of Hormuz. Former Goldman Sachs CEO Warns of Risks in Private Credit Market Another high-profile financial figure is warning about the risks in the world of private credit. Former Goldman Sachs (GS) CEO Lloyd Blankfein told Bloomberg in a recent interview that private assets accumulating without being sold by a number of major investors could be a signal that some of those assets are overvalued. Blankfein said that a re-evaluation of those assets could cause a big hit to the value of private credit funds, which have had a rough stretch recently, with some experts warning that the industry could spark the next financial crisis. Blankfein compared the number of risks that have grown since the last crisis to pieces of tinder accumulating on a forest floor waiting for a spark to set it all on fire, per Bloomberg. 6 Furniture Maker MillerKnoll's Outlook Hampered by War Shares of MillerKnoll (MLKN) are tumbling after the furniture maker's latest quarterly results fell shy of estimates and the company warned of risks to its outlook from the ongoing conflict in the Middle East. MillerKnoll said it expects its fiscal fourth quarter results will take an $8 million to $9 million hit due to the Iran war because of "minimal expected shipments to the region and higher logistics costs" caused by the conflict. 7  The company reported third-quarter revenue of $926.6 million and adjusted earnings of 43 cents per share, each coming in narrowly below the analyst consensus compiled by Visible Alpha. The stock, which through yesterday's close had gained 6% so far in 2026, was down 19% in recent premarket trading. Do you have a news tip for Investopedia reporters? Please email us at tips@investopedia.com Sponsored Trade on the Go. Anywhere, Anytime One of the world's largest crypto-asset exchanges is ready for you. Enjoy competitive fees and dedicated customer support while trading securely. You'll also have access to Binance tools that make it easier than ever to view your trade history, manage auto-investments, view price charts, and make conversions with zero fees. 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