[Chart courtesy of MarketWatch.com] The Dow opened with a sharp 600-point drop as traders kept watching the Iran war and rising oil prices (crude surged around 11%). But the major indexes staged a solid comeback after Iranian state media said the country is working with Oman on a protocol to let ships pass through the Strait of Hormuz again. One …
Nasdaq Leads Rally – Oil Eases, Gold Tests $4,800
[Chart courtesy of MarketWatch.com] The major indexes kicked off the new month on a positive note, climbing steadily as fresh hope emerged that the U.S.-Iran war could be winding down. President Trump posted on Truth Social that Iran’s president had asked for a ceasefire, though he added the U.S. would only consider it once the Strait of Hormuz is “open, …
Truce Hopes Spark Strong Rebound – Best Day Since May
[Chart courtesy of MarketWatch.com] Stocks jumped right out of the gate after a new report gave investors fresh hope that the U.S.-Iran war might be winding down. The WSJ said President Trump had told aides he’s willing to end military hostilities even if the Strait of Hormuz stays largely shut. That headline was enough to spark a strong rebound. Crude …
Geopolitical Jawboning Continues – Bears Edge Out Bulls
[Chart courtesy of MarketWatch.com] The major indexes opened higher after President Trump posted that the U.S. is in “serious discussions with a new, and more reasonable, regime” to end military operations in Iran. He added that “great progress has been made,” which briefly lifted sentiment. However, he also warned that if a peace deal isn’t reached “shortly” and the Strait …
No Safe Havens Today – Bears Dominate The Session
[Chart courtesy of MarketWatch.com] The major indexes opened lower and stayed under pressure most of the day, weighed down by rising oil prices and ongoing uncertainty from the Middle East conflict. Brent crude jumped 4% to above $107 a barrel, while West Texas Intermediate climbed 3% to over $93, as traders reacted to the latest developments. President Trump posted on …
From Early Jump To Steady Green Close – Markets Stay Positive
[Chart courtesy of MarketWatch.com] Stocks jumped at the open after reports that the U.S. had delivered a 15-point peace plan to Iran aimed at ending the conflict. The news, first reported by The New York Times and later confirmed by the Associated Press via Pakistani officials, sent crude prices tumbling. West Texas Intermediate fell 3% to around $88 a barrel, …