European stocks are seen opening sharply higher on Monday as expectations rise that the U.S. and Iran are closing in on a deal to end the three-month-old war. That said, trading volumes are likely to remain thin due to a holiday in the United States for Memorial Day.
Media reports suggest that the U.S. and Iran have developed a memorandum of understanding 'framework' to reach a final deal.
U.S. Secretary of State Marco Rubio said a "pretty solid" proposal is on the table to reach an agreement with Iran, while insisting that President Donald Trump is "not going to make a bad deal."
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.