Since the DOW high on January 16th at 26,616, it’s dropped 2,703 points (as of this second). It’s down around 600 points today (intraday) but the day isn’t over.
Oil spiked up to $75 a barrel today (its highest since November 2014). It eased back down to $74.43 after the market heard that Trump said we were near an agreement with France regarding Iran.
This guy said…
"That’s something of a surprise to the market, " said John Kilduff, founding partner at energy hedge fund Again Capital. “We were more expectant of the harsh rhetoric he started with than that he would intimate there’s a deal.”
So, where do we go from here? I’m guessing that oil stays pretty high and the DOW continues to chop for awhile. Again, just guessing.
It’s truly amazing how easily a President can manipulate the market if he wants to. It’s why they should always be restricted from day/swing trading (along with their family).