NEW YORK: Wall Street stocks held steady near records as oil prices retreated on hopes for a US-Iran agreement to end the war in the Middle East.
The United States is waiting for Iran to respond to its latest proposed deal to end the war and reopen the Strait of Hormuz, a key waterway in petroleum transport.
Both the S&P 500 and Nasdaq finished at records Wednesday after US President Donald Trump said a deal with Iran was “very possible,” but threatened more bombing if negotiations collapse.
Read original at Business Recorder
Markets always price in peace before it actually happens. Let’s see if a deal actually materializes.
Wall Street is famously optimistic about geopolitical resolutions. I’d wait until something is signed.
The Middle East peace premium gets priced in way too early. Been burned by this optimism before.
If a deal actually comes through, markets will rally hard. That’s a very big if right now though.