Trump's Optimism Sparks US Stock Surge as Oil Prices Plunge
US stock futures rose sharply on Monday night as investors became optimistic about a potential resolution to the US-Iran conflict. The Dow Jones Industrial Average futures jumped 441 points, or 0.9%, while S&P 500 and Nasdaq-100 futures advanced by 0.9% and 1.2% respectively.
President Donald Trump stated that talks with Iran were 'proceeding nicely', but warned that the US could go on the offensive if negotiations break down. Crude oil prices plummeted by 6% following his comments, as West Texas Intermediate futures dropped significantly.
The President also called on several Middle Eastern countries to establish diplomatic relations with Israel, urging Saudi Arabia and Qatar to 'immediately' join the Abraham Accords. He suggested that if the US and Iran reach an agreement, Iran might be able to join the accords as well.