Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.8%), Nasdaq Composite (+1.3%), and DJIA (+0.6%) have made a sharp move higher, now each trading in positive territory shortly before the close. 

CBS reporter Weijia Jiang said that President Trump told her in a phone interview that the Iran War could be over very soon and that the U.S. is well ahead of the initial 4-to-5-week estimated time frame. Additionally, President Trump said that ships are now beginning to move through the Strait of Hormuz, and that he is considering "taking it over."

Crude oil is falling sharply, currently down $6.20 (-6.8%) to $84.70 per barrel.