Reuters reports that Iran and the United States have received a 45-day ceasefire plan, put forward by Pakistan, aimed at ending hostilities.
But President Trump is not speaking as though the two sides are close to agreeing on a ceasefire deal.
Over the weekend, Trump posted a profanity laden threat on social media, saying: “Open the Fuckin’ Strait, you crazy bastards, or you’ll be living in Hell – JUST WATCH! Praise be to Allah. President DONALD J. TRUMP”
President Donald Trump repeated his threating tone on Monday, saying that Iran’s energy and transportation infrastructure could be targeted Tuesday at 8 p.m. ET if the Strait of Hormuz is not reopened.
So why are stocks up? The US500 rose 0.45%, while the NAS100 gained 0.54%. The US30 added around 164 points, or 0.35%.
While stock bidders might be overly optimistic about the possibility of a ceasefire, they also have a few definite reasons to be bullish.
On Friday, U.S. jobs data has come in stronger than expected, with March nonfarm payrolls rising by around 178,000, well above forecasts near 60,000. Earnings season is also approaching with expectations holding up, particularly in large-cap and tech sectors.
And at least to begin this week, crypto prices have pushed higher, with Bitcoin trading near recent highs, lifting related equities such as Coinbase and other crypto-linked names like Strategy.
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