Analysis: Market confidence in the end of the Iran war wanes, and the rebound in U.S. stocks stalls

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Odaily Planet Daily News: The rebound in the U.S. stock market has stalled as investor confidence in the potential end of the Iran conflict weakens. S&P 500 futures fell 0.4%, and Nasdaq 100 futures declined 0.3%. Major stock indexes briefly turned higher at the close on Monday as Trump hinted that the Iran war might be nearing its end. Although Trump does not believe the conflict will end this week, he insists that military progress is faster than expected. Tom Essaye of Sevens Report said, “In a way, this news came at the right time given the market decline.” He added that there are still reasons to doubt the viability of TACO trading. “Trump’s easing remarks are welcomed by the market, but if yesterday’s TACO rebound is to mean the end of this round of decline, a unilateral statement alone is not enough.” Kathleen Brooks, research director at XTB, said Trump’s comments “may not be enough to permanently eliminate 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 during the ongoing conflict. (Jin10)

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