Heard on the Street Monday Recap: De-Escalation
What happened yesterday:
Markets shrugged off U.S. strikes on Iran and Tehran's ensuring response. Iran's retaliation—missile strikes on U.S. bases in Qatar and Iraq, of which it gave advance warning—appeared designed to avoid a wider war that draws the U.S. in further. Markets have already been pricing in regional uncertainty.
Stocks rose. The S&P 500 and the Nasdaq Composite both climbed by over 0.9%, while the Dow Jones Industrial Average was up 375 points (🎧 listen here.)
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