Stocks Pump'n'Dump As Powell Pessimism Trumps Iran Optimism

Stocks surged higher shortly after the cash open as President Trump said that Iran had reached out to negotiate, but that spike higher faded for all but Small Caps. The Nasdaq went red right before The Fed, then the fact that The Fed did not shift its median rate cut expectation for 2025 (despite growing fears of stagflation) prompted gains in stocks.