Jim Cramer gives four reasons why the market keeps shrugging off the Iran war [CNBC]
Cleveland-Cliffs Inc. (CLF)
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Source: CNBC
He pointed to four reasons why investors keep shrugging off the Iran war. In this article CNBC's Jim Cramer said the stock market's muted reaction to escalating tensions in the Middle East shows investors are focused on forces far bigger than geopolitics. “When you saw the news…you had to believe we were just going to get clobbered today,” the “Mad Money” host said, referring to headlines over the weekend that Iran closed the Strait of Hormuz again Despite the U.S. oil benchmark, West Texas Intermediate crude , jumping more than 5% Monday, stocks “barely blinked.” The Dow Jones Industrial Average remained relatively unchanged, only down 4.87 points, the S&P 500 fell 0.2.4%, and the Nasdaq dropped 0.26%. The resilience comes after a powerful rally, with the S&P 500 and the Nasdaq closing at record highs on April 17. At the start of the Iran war, single-day spikes in oil of today's magnitude would've rattled equities more Cramer laid out four reasons why that didn't happen.
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