Momentum-Obsessed Traders Seek Clues on Iran Truce
A trader works at the New York Stock Exchange on May 7.
Photographer: Michael Nagle/BloombergInvestors riding a scorching run of market momentum are likely to face a reality check when trading resumes Sunday night New York time after President Donald Trump rejected the latest peace offering.
Trump labeled Iran’s latest response to his proposal to end the 10-week conflict with the US is “TOTALLY UNACCEPTABLE.” Iran offered to transfer some of its stockpile of highly enriched uranium to a third country in its response to the latest US proposal to end 10 weeks of war, but rejected the idea of dismantling its nuclear facilities, the Wall Street Journal reported. Iran disputed the report, according to Iran’s semi-official news agency Tasnim.