Oil Pops, Tech Drops As The Market's Melt-Up Marred By Trump-Tehran Tremors

Tl;dr: Strong earnings and positive price momentum offered equity markets some respite against the disappointment of US-Iran diplomacy over the weekend (bilateral escalation in the Strait). Today's trading pattern mimicked that of recent Mondays - with Sunday night kneejerks unwound through the US session - but without the same strength (stocks off their lows but red, oil off its highs but still green). VIX was up bigly (less about call-chasing) Dollar and Bonds basically unch, bitcoin up, gold down.

“I’m not going to be rushed into making a bad deal,” Trump said.

In a phone interview, he noted the truce expires “Wednesday evening Washington time.”

Oil