Key insights
- Trump's rejection of Iran's offer has escalated geopolitical tensions, causing oil prices to surge and US stock futures to decline. This increases uncertainty and risk aversion in the market, potentially leading to a short-term negative impact on US equities, particularly in sectors sensitive to energy prices and geopolitical instability.
(Disclosure: I have a long position in USO that I plan to take off first thing tomorrow morning.)
Trump says that the most recent terms are "totally unacceptable." Oil futures have risen over 3%.
I keep telling y'all that USO is printing. Go short, and then in two more days, we'll have another resolution. Go long, and repeat.