Dear Donny has said there will be a 5 day lull in the airstrikes on Iran…..why?  He announced that the US and Iran are in talks….(personally I think this was to appease his buddies on Wall Street)….

President Trump on Monday extended his deadline for Iran to reopen the Strait of Hormuz to international shipping, saying the US would hold off on strikes against Iranian power plants for five days, per the AP. Dow futures jumped 1,000 points, and crude prices fell on the news, reports CNBC. Trump made the announcement on Truth Social hours ahead of his self-imposed deadline later in the day. Writing in all-caps, he said the US and Iran have had “very good and productive conversations” that could yield “a complete and total resolution” in the war. Talks would continue “throughout the week,” he said.

Trump added that the suspension of his threat to attack power plants was “subject to the success of the ongoing meetings and discussions.” Trump did not elaborate on the negotiations that had taken place. Iran did not immediately acknowledge any talks between the countries, but Iranian Foreign Minister Abbas Araghchi did say he spoke by phone with his Turkish counterpart, Hakan Fidan. Turkey has been an intermediary before in negotiations between Tehran and Washington.

No details just Donny’s worthless word of talks….and the markets went berserk up 10000 points(go figure)

And then Iran weighed in…..

A cautious relief swept through financial markets Monday after President Trump said the United States has talked with Iran about a possible end to the war. Oil prices eased, and stock prices rose on Wall Street following severe losses taken elsewhere in the world before Trump’s announcement.

• The S&P 500 rose 74.52 points, or 1.1%, to 6,581.00.
• The Dow Jones Industrial Average rose 631 points, or 1.4%, to 46,208.47.
• The Nasdaq composite rose 299.15 points, or 1.4%, to 21,946.76.

The price for a barrel of Brent crude fell 10.9% to settle at $99.94, down from nearly $120 at one point last week, after Trump said the United States and Iran held productive talks the last two days “regarding a complete and total resolution of our hostilities in the Middle East,” the AP reports. The market’s moves were tentative, though, after Iran denied such talks took place and Iranian parliament speaker Mohammad Bagher Qalibaf said in a post on X that fake news “is used to manipulate the financial and oil markets.”

The Dow went from a surge of nearly 1,135 points during the morning to a much more modest gain. Over the weekend, Trump had threatened to “obliterate” Iran’s power plants if it doesn’t open up the Strait of Hormuz within 48 hours. Trump said Monday that he is postponing attacks on Iranian power plants for five days to allow talks to continue. Quickly afterward, though, came the denials from Iran about talks, while Iran’s semiofficial Fars and Tasnim news agencies portrayed the American president as backing down. Turkey and Egypt, meanwhile, said they had spoken to the warring parties, the first sign of coordinated mediation, which could be an encouraging signal.

• The price of Brent crude fell as low as $96 immediately after Trump announced the postponement but quickly recovered a chunk of that loss. Benchmark US crude had a similar reaction, immediately dropping toward $84 per barrel before yo-yoing back above $92 and then settling at $88.13, down 10.3% from Friday.

On Wall Street, companies with big fuel bills that will benefit from any easing of oil prices led the market. Norwegian Cruise Line Holdings surged 6.2%, while United Airlines climbed 4.5%, and American Airlines rose 3.6%. All, though, are still down for the year so far. Stocks of smaller companies were also particularly strong, and the Russell 2000 index of smaller stocks jumped a market-leading 2.3%. It had dropped last week to 10% below its record, a sharp enough fall that professional investors have a name for it: a “correction.”

In Europe, stock indexes immediately flipped from losses to gains following Trump’s announcement. France’s CAC 40 rose 0.8%, and Germany’s DAX returned 1.2%. That compares with sharp drops for Asian stock markets, which finished trading before Trump made his announcement. South Korea’s Kospi careened 6.5% lower, Japan’s Nikkei 225 dropped 3.5%, and Hong Kong’s Hang Seng fell 3.5%.

All this after Donny made the statement that if the Straight was not fully functioning in 48 hours there would be consequences….

Iran is warning it will choke off one of the world’s most important oil routes if the US follows through on a new threat, CNN reports. The country’s armed forces headquarters said Sunday it is prepared to shut the Strait of Hormuz “completely” and for an indefinite period if US President Trump orders strikes on Iranian power plants. The statement came a day after Trump said he would direct attacks on Iran’s power infrastructure if the narrow waterway—through which a significant share of global oil shipments passes—is not fully reopened to shipping within 48 hours

Iran’s military said the strait would remain closed until any damaged plants are restored, and broadened its warning beyond the US. It threatened to hit Israeli energy and communications networks, referring to Israel as an “occupying regime,” per the AP, as well as “similar companies in the region with US shareholders.” Power plants in countries that host American bases “will be legitimate targets for us,” the headquarters said. Early Monday, Israel launched new attacks against Iran, the AP reports, and the top leader of the US military’s Central Command described the joint campaign against Iran as “ahead or on plan.” Meanwhile, Trump spoke to UK Prime Minister Keir Starmer about the need to see the Strait of Hormuz reopened in a late-night call Sunday, CNN reports.

Is Donny trying to dodge another bullet?

Meanwhile those talks that Donny pounced on……

World markets remained in an upbeat mood on Monday after President Trump postponed a major escalation of the Iran war and said the two sides were engaged in “productive” talks to end the conflict. Much uncertainty remained about those talks. Coverage:

• Trump said son-in-law Jared Kushner and envoy Steve Witkoff were leading the US negotiations with a “respected” Iranian leader, reports the AP. He did not say who that leader is, adding that it would be dangerous for the man to be identified, though he specified that Supreme Leader Mojtaba Khamenei was not involved.
• Axios, quoting an Israeli official, reports the Iranian figure might be the speaker of the Iranian parliament, Mohammad Bagher Ghalibaf. However, Ghalibaf wrote on X that “no negotiations have been held with the US, and fakenews is used to manipulate the financial and oil markets and escape the quagmire in which the US and Israel are trapped.”
• The New York Times reports that Iran, “at least publicly,” is denying any progress. The nation’s Fars News Agency quotes an unnamed senior Iranian official who said much the same as Ghalibaf: “Trump backed down from attacking critical infrastructure as Iran’s military threats became credible,” he said, per the Hill. “Financial market pressure and the threat of bonds within the US and the West have increased, and this has been another important factor in this retreat.”

A ‘respected leader’……who would that be?    Some rug salesman in Southern California?

This is all so much con….period!

I Read, I Write, You Know

“lego ergo scribo”