Although all details of the operation will not be disclosed, we learned some information during yesterday’s press conference organized by President Trump. The range of topics covered was extensive, but the most important issue remains the lack of an extension of the ultimatum, which expires today.
As DTJ emphasized, bombing of the country’s power grid could happen today. Because of Easter Monday, European exchanges were closed, which also affected the domestic market.
Trading still took place in a strong market, with equity indices strengthening – even amid rising oil prices. The broad market index S&P 500, after a relatively flat session, ended the day up 0.44%.
The technology Nasdaq Composite strengthened even more over the day, up 0.54%. It is worth noting that this marks the fourth consecutive rising session for both indices. Demand advantage was also evident in the industrial Dow Jones Industrial Average and the small‑cap Russell 2000 index, which rose 0.36% and 0.42% respectively.
WTI at $115.75, Brent at $111.49
Strong sectors were finance and cyclical consumer goods, while the healthcare sector performed poorly. The focus remains on tensions around Iran and rising oil prices – at the time of writing, WTI is $115.75 and Brent $111.49 per barrel. U.S. benchmark 10‑year Treasury yields rose 24 basis points to 4.344%.
Asian trading gives a mixed market picture
Morning view of Asian trading gives a mixed market picture. At the time of writing, Japanese indices are near the line – Nikkei 225 (+0.03%) and Topix (+0.08%).
We see a selling advantage in India, where Sensex and Nifty fall 0.45% and 0.42% respectively. Slight optimism remains in South Korea’s KOSPI (+0.31%).
The continental China Shanghai Composite remains slightly above the line (+0.08%). Tuesday morning also brings a pull‑back from precious metals – silver is overvalued by 0.92% and gold by 0.30%.
The most sensitive barometer of the situation in the Persian Gulf remains oil prices, but in recent days even its appreciation did not hurt the strength of equity indices.
