Treasury Secretary Bessent was on CNBC this morning, hinting at the possibility of an Iran deal in the next 48 hours.
Treasury Secretary Bessent was on CNBC this morning, hinting at the possibility of an Iran deal in the next 48 hours. Oil prices are sliding, and oil stocks with them. Given the market’s collective recent experience with Iran deal claims, observers could be forgiven for some skepticism. It is worth considering the possibility that Bessent has created an opportunity for those looking to enter oil names. The Secretary is a very smart man, but his comments today were laced with the moral hazard of the Administration’s own self-interest. They want, even need, to see oil lower. We all want oil lower. But the facts on the ground and the recent history of events point towards a slower resolution than we all might like.
Chips are sprinting higher in today’s premarket, continuing yesterday’s emphatic run. The rotation seems to be away from software names, some of which are trading near key support. Watch the Kapnotes board for updates as set-ups develop.
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