Stocks were largely up on Wall Street for Friday's trade, and it followed our local market snapping our worst run of outs — eight days down since 2018. It coincided with a falling oil price despite President Trump standing firm on maintaining the US Navy blockade of Iranian ports.
Here's a realistic take on what smart investors are doing stocks-wise right now.
Another day, another Trump or Iranian headline, and while the main game is the Strait of Hormuz and developments there that take oil prices up or down, what we’ve learnt overnight is that ‘night’ can be a long time between Sydney, Europe and Wall Street in New York City.
Today I'm looking at the big winners for the week and then see what the analysts are tipping.
Before Friday's trade open, equities were bought on the suspicion that Wall Street had been given inside information that a peace deal between the US and Iran was a chance, and that a potential reopening of the Strait of Hormuz — vital for global oil supply — was close to happening.
Here's my pick of stocks that could have upside when peace is given a chance.
While the sniff of a ceasefire that could be the entry into a peace deal excited global stock markets, the three big players in this war — Trump, Netanyahu and the Ayatollah — keep making it hard to believe that peace and the Strait of Hormuz open to all are chances any time soon.
While stock markets largely finished in the green last week, the week ahead might not be so positive with the feeling that an April Fool’s joke was played by President Trump when he talked of ending the war even if the Strait of Hormuz was still closed.
At a time when I'm 'resolution dreamin'' about the Iran war for investor reasons, I look at why the long-term player should say a little prayer for peace ASAP.
Friday Close Change Change % Change Week % Dow Jones 45,166.64 -793.47 -1.43% -2.87% S&P 500 6,368.85 -108.31 -1.67% -3.91% NASDAQ 20,948.36 -459.72 -2.15% -5.24% […]
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