Trump's Iran-war address caused another oil spike. Here's what smart people in markets are saying. [Yahoo! Finance]
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Source: Yahoo! Finance
Here's how market strategists like Mohamed El-Erian, Marko Kolanovic, and Diane Swonk reacted to the moves. Oil prices surged after President Trump spoke about the war in Iran on Wednesday night, fueling a sharp reversal in the relief rally seen earlier in the week. WTI crude gained as much as 14%, while Brent climbed 8% at intraday highs. Both are trading around $110 per barrel. In stocks, all three major US indexes traded in the red on Thursday morning. Investors were expecting Trump to either emphasize deescalation in Iran, or go in the other direction and announce a ground invasion. The president's remarks ended up being somewhere in the middle, extending the timeline for US withdrawal. Here are what some of the top voices in investing are saying about the market moves following Trump's remarks. Marko Kolanovic, ex JPMorgan quant Marko Kolanovic, JPMorgan's former quant chief, raised concerns about the market set-up as oil falls after Trump's speech. The short-lived
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