Quoted from Sky News Arabia:
- The negotiations in Tehran reached an understanding on the broad lines regarding the nuclear issue.
- The delivery of uranium will be linked to the lifting of sanctions and will be gradual.
- Focus on the understanding regarding the Strait of Hormuz, which is still under negotiation.
- Iran still wants American guarantees for any agreement reached.
Crude oil reached a new low of $94.73. Current price is $95.84. This is the lowest level since May 8. The price is down but oil needs to flow to rebuild inventories and bring prices down.
the university. The Michigan Consumer Sentiment Index sent a boost across the bow with sentiment falling due to rising gas prices as well as rising inflation expectations. This is not a good visual. Kevin Warsh and President. Trump talked about reforming the Fed and that growth shouldn’t always be stifled “just because” meaning you can have growth and some inflation. However, there cannot be slow growth and high inflation. Pressure continues to move towards a solution.
AAA gas prices heading into Memorial Day weekend are hanging around $4.55 highs.
Stocks are still up but far from the highs as well.
- The Dow rose $482, or 0.95%, to 50,769
- The Standard & Poor’s index rose 50.27 points, or 0.68%, to 7,497 points.
- The Nasdaq index rose 158 points, or 0.61%, to 26,454
