President Donald Trump on Saturday said there was a “very successful attack” on three nuclear sites in Iran. In a post about True Society, Trump added, “All planes are safe on the way home,” and ended the post by saying, “Now is the time of peace.”
Below are some comments from some financial analysts.
Mark Spindel, CIO, Potomac River Capital, Washington, DC:
“I think the market will be wary at first. I think oil will be high. There is no damage rating. It won’t take time. He explains it as ‘complete’, but we’re engaged.
“We have plenty of time to deliberate before the market opens on Sunday. We’re arrangements to talk to a few people tomorrow. When the dollar is opened for a deal in New Zealand, we get early signs. But this was a bold move.
Jamie Cox, Managing Partner, Harris Financial Group, Richmond, Virginia:
“Oil will surely spike this first news, but it is likely that it will level out in a few days. With this power of nuclear capabilities and this demonstration of total annihilation, they likely lost all leverage and pushed the escape button to a peace deal.”
Mark Marek, Chief Investment Officer, Sibert Financial, New York:
“I think it’s going to be very positive for the stock market. If you asked me on Friday, I think I was hoping for two weeks of volatility with the market trying to analyze all the dribs and monotonous information coming out of the White House.
“So this is a relief, especially because it doesn’t seem like (the US) is seeking a long-standing conflict, but rather a situation that took place in one place.
Jack Ablin, Chief Investment Officer of Cresset Capital, Chicago:
“This adds a complex new layer of risk that we must consider and pay attention to… This will definitely affect energy prices as well, and potentially affect inflation.”
(Reporting by Saeed Azhar, Suzanne McGee; Editing by Peter Henderson and Vidya Ranganathan)
