"Trump told CBS News in a phone conversation that ships are moving through the Strait. The president said he is 'thinking about taking it over.' He also indicated he thought the war would soon be over. And he may also consider reducing oil sanctions on Russia to help ease crude oil prices."
"France sent a nuclear-powered aircraft carrier to the Eastern Mediterranean, joining British warships after an Iranian-made drone struck a U.K. air base on Cyprus. Greece and Turkey sent forces to Cyprus. Australia is also sending missiles and a radar plane to help the UAE."
"Bank of America just reiterated a buy rating on the tech gain, saying it's bullish heading into Nvidia's GTC conference on March 16. Analysts at Wolfe just reiterated an outperform rating on Amazon, raising its price target to $255 from $250, saying AMZN is benefiting from accelerating AWS growth and strong retail growth with margin expansion."
Oil prices dropped to $88.75 following President Trump's statements about potentially ending the Iran conflict and considering control of the Strait of Hormuz. Trump indicated ships are moving through the strait and he is considering taking it over, while also suggesting possible reduction of oil sanctions on Russia. Despite these developments, stock futures point to a lower market open, with the S&P 500 down 0.15%, the Dow down 0.15%, and the Nasdaq down 0.05%. Gold increased to $5,218 and Bitcoin rose to $70,758. International tensions escalate as France deployed a nuclear-powered aircraft carrier to the Eastern Mediterranean, joined by British warships, Greek and Turkish forces, and Australian military support following Iranian drone strikes.
Read at 24/7 Wall St.
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