Lates News

The rebound momentum in the US stock market stalled as investors' confidence in the possibility of the Iran conflict coming to an end weakened. S&P 500 index futures fell 0.4% and Nasdaq 100 index futures fell 0.3%. At the end of Monday's session, major stock indexes briefly turned higher as President Trump hinted that the war with Iran may be close to ending. Although Trump believes the conflict will not end this week, he insists that military action is progressing faster than expected. Tom Essaye of Sevens Report said, "To a certain extent, given the market's decline, this news came at an opportune time." He added that there are still reasons to doubt the feasibility of the TACO trade. Kathleen Brooks, head of research at XTB, said that Trump's comments "may not be enough to permanently eliminate the risk premium already factored into recent oil prices, especially with the Strait of Hormuz still closed." She expects oil prices to remain volatile during the continuing conflict.