On the news front, the Iran-U.S. talks have provided some bullish support to the market. Iran has amended the bill, but the outcome remains uncertain with many unknown factors, so overall, it probably won't lead to a significant rebound in the market.

On the U.S. side, they remain tough-talking as usual, banning American individuals and entities from paying tolls for the Strait of Hormuz. Trump also instructed his aides to prepare for a long-term blockade against Iran, aiming to hit Iran's financial revenue, essentially forcing Iran to make concessions on nuclear issues. However, expecting Iran to make concessions is still difficult; it mainly depends on the developments in the next couple of days. In the short term, negotiations are likely to continue, and the market generally believes that neither side will escalate into conflict. News regarding Iran-U.S. relations should gradually be discounted by the market. The focus should still be on today's economic data.