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Posted on 03/09/2026 2:31:58 PM PDT by SeekAndFind
Futures for the Dow Jones Industrial Average and other major stock indexes traded slightly lower ahead of Tuesday's open, after President Donald Trump's comments on the U.S.-Iran conflict Monday sparked a stock market reversal. Oil prices tumbled after spiking above $119 a barrel in volatile trading.
Broadcom shares jumped 4.6% Monday, bullishly retaking its 50-day moving average. Shares are forming a new base. Micron stock found much-needed support at the 50-day line, reversing up 5.1%.
Nvidia stock erased early losses to rally 2.7% Monday. Shares found support at their long-term 200-day line, but remain below their 50-day.
Finally, Tesla shares also found support at their 200-day line, up 0.5% to snap a two-day losing streak.
President Trump midday Monday told CBS in a phone interview that the Iran war is "very complete, pretty much" and the U.S. is "very far" ahead of the initial time frame for the war of four to five weeks. Those comments helped stocks reverse higher.
And oil prices tumbled Monday after Trump said that ships are now passing through the Strait of Hormuz and that he is "thinking about taking it over." Oil prices moved lower in extended trading, as West Texas intermediate futures traded around $84 a barrel.
(Excerpt) Read more at msn.com ...
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$119 a barrel? That should be an easy short. In a week or so the straits will be open and besides there are plenty of other ports on the red sea that can pump out oil, as well as the US and Venezuela. Russia maybe enjoys a windfall to help its war in Ukraine too, which TPTB don’t want, so a reversion to the mean should come fast once the straits are secure which will be soon.
IBD - another rat hive masquerading as a financial news org.
Hedge shorts were looking for anything...
“$119 a barrel? That should be an easy short. «
That WAS an easy short.
I looks like we just saw the biggest price increase in crude oil in the shortest time period.
WTI closed at $67 on Friday February 27, 2026.
WTI hit $120 early this morning.
And is now $85 and this could be the beginning of the biggest price decline in crude oil.
“IBD - another rat hive masquerading as a financial news org.”
What in the article do you disagree with?
The Oil prices actually started going down last night BEFORE Trump said what he said, but I think if Hormuz is open and allowed to flow, the prices will go down, but the war has NOT been won yet, as long as the regime is there its NOT won
I hope Trump is not serious about the war being over, and expect Marines to be flying Old Glory over Kharg Island when I sip my morning coffee tomorrow.
I find it shocking that people haven’t learned to understand Trump talk after years of listening to him.
morons.
Panicans never learn.
“I hope Trump is not serious about the war being over ... “
Where did he say that?
Most correct, sir.
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