Friends
As expected, and as promised, the President announced today that the U.S. is withdrawing from the Iran deal. Oil prices gyrated, especially after rumors midday that the President was not going to withdraw from the Iran deal, but ended lower for the session. Stocks did sell off when the announcement became known, but the damage was muted. Again, this was telegraphed by the White House and should not, and seemingly did not come as a surprise to the markets.
By the close, the Dow Jones Industrial Average was up 2 points to finish the day at 24,360. The S&P 500 was down a fraction to close at 2,671. Gold was up $2 to trade at $1,316 per ounce, while the aforementioned oil was down $1.00 to trade at $69.73 per barrel WTI.
The global macro political story dominated the headlines today, so trying to discern any fundamental or technical information from today’s trading is somewhat impossible. Let’s see what tomorrow brings.
Have a nice evening everyone.
