The markets are under pressure to start the session, with all three of the major stock market averages trading in the red. The U.S. is preparing for potential airstrikes on Iran amid escalating tensions, drawing comparisons to the situation leading up to the Iraq invasion in the early 2000s, though President Trump is hopeful for a deal. The uncertainty has sent the Brent oil price soaring to above the $71 per barrel threshold, while Exxon Mobil ( NYSE: XOM) is tacking on 1% today.
White House spokesperson Karoline Leavitt has said Iran would be wise to make a deal, as the United States surges further military assets to the Middle East. Her statement came as part of a series of veiled threats from officials under US President Donald Trump, a day after US and Iranian representatives held a second round of indirect talks this month.
In early January, widespread demonstrations driven by economic hardship, political discontent and sustained foreign pressure posed one of the most serious domestic challenges Iran's leadership has faced in years. The unrest soon gave way to a sharpening regional standoff, as President Donald Trump ordered large US military deployments to the Middle East and issued warnings demanding that Iran curb its nuclear program and ballistic missile development.
