Oil prices and U.S. stock futures whipsawed overnight after Iran fired on Iraqi bases housing U.S. troops, but markets quickly rebounded after there were no reports of casualties and President Trump addressed the nation.
The Dow climbed 200 points at midday on Wednesday after Trump’s speech on tensions with Iran. Dow futures had tumbled as much as 400 points overnight but flipped into positive territory by morning. The Standard & Poor’s 500 and tech-heavy Nasdaq also climbed 0.7 percent.
But analysts still were cautious, saying that they would not know the full scope of the rebound until after Trump’s appearance in the late morning.
In his statement, Trump said the U.S. would impose additional economic sanctions on Iran but that “the U.S. is ready to embrace peace with all who seek it.”
SOURCE: http://www.washingtonpost.com/business/2020/01/08/oil-prices-stock-futures-ricochet-after-iran-lobs-missiles-us-bases-iraq
