Why Wall Street seems to keep believing Trump | CNN Business

If you’ve been paying attention to, like, the news, you may be tempted to see Wall Street’s Monday morning 180 from despair to euphoria as a sign that stock traders are all a bunch of rubes. ICYMI: Over the weekend, President Donald Trump set a Monday night deadline for Iran to fully reopen the Strait of Hormuz, or else the US would start attacking Iranian power plants. But around 7:30 am ET Monday, two hours before US financial markets opened, Trump postponed that deadline by five days, citing “VERY GOOD AND PRODUCTIVE CONVERSATIONS” with Tehran toward a “COMPLETE AND TOTAL RESOLUTION” of fighting. (All-caps style his, of course.) Immediately, US stock futures soared and oil prices fell. The Dow, which had been on the verge of “correction” territory last week — nearly 10% off its most recent peak — briefly surged more than 1,000 points. It ended the day 630 points, or 1.4%, higher. The broader S&P 500 gained 1.2% and the Nasdaq rose 1.4%. Oil drops, stocks soar after Trump postpones strikes on Iran Now, because you’re all a bunch of Readers of News, you might be thinking: Come on, finance folks, are you really falling for this again? This is the same Trump wh