Stocks are extending their gains from the previous session on optimism that the
conflict may come to a close soon.
With conflicting news headlines on the war in Iran, it’s easy for investors to get ahead of themselves and react to the hope of de-escalation rather than to any confirmed progress.
“The market has been pricing in the worst-case scenario when it comes to the war in Iran, that anytime you see any type of de-escalation news, the market really wants to run with that,” said Clayton Allison, portfolio manager at Prime Capital Financial.
“On the flip side, we haven’t really seen any actual progress there,” he told MarketWatch in a phone interview. “I’m hearing a lot more from United States’ side of things than Iran. It seems like Iran has been very steadfast in not even coming to the negotiating table.”
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