U.S. markets shut Saturday as Hormuz terms and a reported tariff deal unfold

U.S. markets were closed Saturday, leaving QQQ and SPY at Friday’s carried close. Trump said he rejected Iran’s Hormuz reopening proposal, while Iran kept reopening conditional and the U.S. energy secretary described military-assisted shipments. Libya reported that a previously closed oil pipeline resumed flow. Benzinga reported a U.S.-China tariff arrangement, and Axios reported an AI safety investigation.