Citigroup: Trump’s focus on markets could limit Middle East-driven stock selloff
2026-07-09 13:52:33
According to CNBC, Wall Street has remained constructive on U.S. stocks despite the latest Middle East attacks, with the S&P 500 up more than 9% in 2026 and the Dow Jones Industrial Average and Nasdaq Composite up 8.9% and 11%, respectively. The report said stocks in early trading Thursday recovered most of the prior session’s losses after oil prices jumped when President Donald Trump said the U.S.-Iran ceasefire was “over.” Citigroup strategist Max Layton wrote that Trump has shown an affinity for strong equity prices and stable bond markets, forming the basis for Citi’s view that he will return to negotiations relatively quickly. CNBC reported that Trump said Thursday he called Iran to make a deal following U.S. strikes, while crude prices stabilized with U.S. oil and Brent futures trading fractionally lower and Treasury yields little changed.
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