U.S. President Donald Trump said on Monday that a “complete and total” ceasefire between Israel and Iran will go into force with a view to ending the conflict between the two nations.
“On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, ‘THE 12 DAY WAR’,” Trump wrote on his Truth Social site.
U.S. crude futures fell after Trump’s announcement, which came after the close of trading on Wall Street. S&P 500 e-mini futures rose slightly when trading resumed.
COMMENTS
JACK ABLIN, CHIEF INVESTMENT OFFICER, CRESSET WEALTH ADVISORS, PALM BEACH, FLORIDA
“This lifts some of the geopolitical uncertainty surrounding the markets, although, for the most part, equity investors have been kind of shrugging the uncertainty off. I think it’s certainly an incremental positive, but I don’t think it’s a catalyst for the next bull market.”
“It certainly sounds like a significant milestone, and I hope it it’s true.”
JAKE DOLLARHIDE, CEO, LONGBOW ASSET MANAGEMENT, TULSA, OKLAHOMA
“Part of the problem holding equities back has been higher oil prices and geopolitical risk, and a cease fire or end to the conflict would go a long way towards solving both those issues.”
“This may be the match that sparks a continuation of the rally we saw today.”
(Compiled by the Global Finance & Markets Breaking News team)
