Is Tomorrow Taco Monday?
Earlier today, major news outlets reported that President Trump decided not to carry out the strikes he had previously announced against Iran, saying negotiations are advancing toward a potential peace deal.
So... how many TACO counts is this now? We've honestly lost track.
For investors, however, the market reaction is what matters. Oil futures quickly fell, at one point dropping by as much as 5% as traders priced in a lower risk of supply disruptions.
We love it when oil prices fall. Cheap energy is good for businesses, lowers transportation and manufacturing costs, eases inflationary pressure, and leaves consumers with more money to spend. The only people who tend to dislike falling oil prices are those whose profits depend on high energy prices or market volatility.
For the broader economy, lower oil prices are often welcome news.
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