Today has been weird. We dumped immediately at the open, likely because of rising tensions with Iran as the market ignored the strong $INTC earnings. However, we then got a report from Reuters that China is trying to potentially meditate the situation with Iran. The report claimed that Iran is willing to work with China as well. Five minutes later, Trump posts that he was told by China that they will never let Iran have a nuclear weapon but then he also says “If they sell them any weapons, they better watch out.” So the bullish angle is Trump may be implying that he’s happy that Iran is getting advice by China and he main entertain that Chinas meditates the situation to create some potential chance for a ceasefire? Or is the threat at the end of the post trying to warn China that they shouldn’t get in the way of anything that is happening between the US and Iran? Oil is down 3% today which makes me think traders feel the escalation may have a chance to stop…but this is all just getting exhausting as we try to navigate what is actually going to happen with Iran.