Stocks jump and oil prices fall as U.S.-Iran conflict eases

The rally capped a whirlwind day of reversals that swept through markets around the world. Stocks initially reeled after Iran fired missiles at two bases in Iraq housing U.S. troops — retaliation for a U.S. drone strike that killed a top Iranian general last week.

Crude oil ended up slumping sharply, and gold fell for the first time in 11 days. Treasury yields rose in a sign of optimism, and a measure of fear in the stock market eased. “Geopolitical shocks have resulted in sharp, short pullbacks, much of which is recovered in the next few months, and I suspect everyone in this business knows that data point and uses any opportunity to buy up stocks,” she said.

A government report due out Friday will give an update on the health of the job market, which has been key in propping up the economy despite weakness in manufacturing caused by Trump’s trade wars. Economists expect Friday’s report to show that employers added 160,00 jobs last month, and a report out Wednesday suggested private-sector hiring may have been stronger in December than economists forecast.

Gold had a similar whipsaw day. It had climbed as high as $1,604.20 an ounce in overnight trading before settling at $1,557.40, down $14.40.Stock indexes slumped in Asia, but the selling eased as trading moved westward through the day. Indexes in Europe posted some gains.

Profits for Q1 would take a huge hit if most of the planet became a disintegrated pile of radioactive rubble.

President Trump is the world’s most stable genius!

AY PAPI CHOLO

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