US Awaits Iran's Response; China Asks Banks to Pause New Refiner Loans | Bloomberg Brief 5/7/2026

US equity futures gain and Brent crude falls for a third straight day as the US awaits Iran's response to a proposed deal that would reopen oil flows through the Strait of Hormuz. China advises its largest banks to temporarily suspend new loans to refiners recently sanctioned by the US over their ties to Iranian oil. Sitara Sundar of JPMorgan Private Bank discusses concentration risks in equities and the Fed's rate path. (Source: Bloomberg)