The S&P 500 Index ($SPX) (SPY) today is up +1.02%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.67%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.10%. June E-mini S&P futures (ESM26) are up +1.10%, and June E-mini Nasdaq futures (NQM26) are up +1.15%.
Stock indexes are moving sharply higher today after the Wall Street Journal reported that President Trump had signaled he was willing to end the US military campaign against Iran even if the Strait of Hormuz remains closed. The report said Mr. Trump believes the US should wind down hostilities while pressuring Iran diplomatically to reopen the Strait. If that fails, the US will press allies in Europe and the Gulf to take the lead on reopening the waterway. US and Israeli forces pressed ahead with attacks on Iran today, while Iran hit a Kuwaiti oil tanker off Dubai in a drone attack, and the UAE reported a drone attack.
