Stock market yawns as Trump trashes Iran deal
Trump-haters had hoped that the financial markets would rebuke President Trump for killing the Iran deal. No such luck. Jack Hellner emails:
It is very interesting that today, as Trump properly left the Iran deal, crude oil was down $1 and the stock market was flat after it had been down over 100.
Somehow, as journalists and most Democrats have a cow, the stock market didn't care much. It probably helped a lot that he allowed companies to pull out gradually over six months.
Trump is doing great!
Indeed, here is the chart of the Dow Jones Industrial Average, the index of 30 large companies that includes Boeing:
Boeing could stand to lose its order from Iran for 110 airliners worth many billions of dollars (exact pricing for the planes is secret). Yet Boeing stock closed up for the day, because Boeing has already prepared investors and in fact has deferred delivery of some planes already scheduled.
One factor to consider in evaluating the insistence of France, Germany, and the U.K. on keeping the deal is the large number of commercial orders, including 100 Airbus airliners, that have been booked by companies in those countries, many of which are already being engineered and manufactured.