Stocks spike, oil slides after AI Arabiya says it TV obtaining what it describes as final draft of US-lran agreement:
Key provisions include:
1) An immediate, comprehensive, and unconditional ceasefire on all fronts (land, sea, air)
2) Mutual commitment not to target military, civilian, or economic infrastructure
3) Cessation of military operations and instigating media warfare
4) Respect for sovereignty, territorial integrity, and non-interference in internal affairs
5) Guaranteed freedom of navigation in the Gulf, Strait of Hormuz, and Sea of Oman
6) Establishment of a joint monitoring and dispute resolution mechanism
7) Launch of negotiations on outstanding issues within seven days
8) Gradual lifting of U.S. sanctions in exchange for Iran's adherence to the terms
9) Affirmation of compliance with international law and the UN Charter
https://t.co/ZiQ59vefU3
The agreement is stated to enter into force immediately upon formal announcement by both parties".
This is a possible preview of the "messy meetings" and "family fight" that Fed Chair designate Kevin Warsh said he wanted at his confirmation hearing last week.
Second busiest week of the Q1 reporting season ahead with 2,100+ companies set to report. Watch for: $AAPL, $MSFT, $AMZN, $GOOGL, $META, $LLY, $XOM, $VZ, $TMUS, $COP, $BP, $PH, $GD and many more. #earnings#stockmarket#investing#tech
And another one ... "Unfortunately, to me, the oil futures prices I cited and securities markets in general seem to be undervaluing the risk that the conflict continues, the Strait remains closed, and disruptions to production and shipping keep energy prices high, which I consider a very possible scenario."