Odaily Planet Daily reports: The rebound in U.S. equities has stalled as investors' confidence wanes that the Iran conflict may soon end. S&P 500 futures fell 0.4%, and Nasdaq 100 futures dropped 0.3%. On Monday, major indices briefly turned positive toward the close after Trump suggested the Iran war might be nearing its end. Although Trump indicated the conflict would not conclude this week, he maintained that military operations are progressing faster than expected. Tom Essaye of Sevens Report said, “In some ways, given the market’s decline, this news arrived at a timely moment.” He added that there are still grounds to doubt the sustainability of the TACO rally. “Trump’s dovish remarks have been welcomed by the market, but if yesterday’s TACO rebound is to signal the end of this downturn, unilateral statements alone are insufficient.” Kathleen Brooks, Head of Research at XTB, stated that Trump’s comments “may not be enough to permanently remove the risk premium already priced into recent oil prices, especially with the Strait of Hormuz still closed,” and she expects oil prices to remain volatile for as long as the conflict continues. (Jinshi)
U.S. stock rally stalls as confidence in an end to the Iran war wanes
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Summary
Market confidence in a swift resolution to the Iran conflict has waned, causing the U.S. market rally to stall. S&P 500 and Nasdaq 100 futures fell 0.4% and 0.3%, respectively. Earlier, Trump’s comments briefly lifted market sentiment, but he later stated the war would not end this week. Analysts say the remarks are positive but unlikely to reverse the recent downturn. XTB’s Kathleen Brooks warned that tensions in the Strait of Hormuz could keep oil prices volatile.
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