Markets are taking their cues from geopolitics and deal flow today. In the Gulf, Iranian-linked tankers are moving out of the long-disrupted Hormuz corridor ahead of fresh U.S.-Iran talks, a tentative sign that oil exports may be resuming and one reason crude prices have eased. That comes as investors weigh whether a preliminary peace framework with Tehran can actually deliver on Washington’s goals of curbing Iran’s missile, drone and nuclear ambitions. In corporate news, India’s Reliance Jio is reportedly preparing draft papers for a roughly $4 billion IPO ahead of Mukesh Ambani’s annual meeting, a listing that could rank among the country’s biggest and help fund the telecom giant’s next phase of growth. Closer to home, U.S. Bancorp declared dividends across several preferred share classes, while the business world also pauses to note the death of Walter Parazaider, co-founder of Chicago, whose sound helped define a generation.