Markets swung between caution and optimism today as geopolitics, food safety and industrial earnings pulled investors in different directions. Oil prices initially eased after Treasury Secretary Scott Bessent suggested a possible U.S.-Iran understanding on the Strait of Hormuz within days, raising hopes for calmer shipping through a vital energy corridor. But that optimism was tempered by Iran’s public denial of direct talks and by a vessel strike near the strait, which revived concerns about supply disruption. On Wall Street, Caterpillar offered a more straightforward boost: the machinery giant posted record revenue and nearly doubled profit, saying demand tied to data-center construction remains strong, sending its shares sharply higher. Chipotle moved the other way, pulling jalapeños from some restaurants during a Minnesota salmonella investigation linked to more than 100 cases, a step that reassured regulators but knocked the stock lower.