US stocks are bouncing higher after a report that China is in talks with Iran to allow safe oil and gas passage through the Strait of Hormuz. The price of oil moved lower off of the news and stocks have also rallied off of lows.
The S&P index moved up from a low of 6771 or down -98.72 points, and currently trades at 6817 down -52.45 points. That still down 15 points or -0.76%.
The NASDAQ index moved up from a low of 22500 down -307 points, to the current level of 22678, down -130 points.
So China may a “Get Out of Jail Free” card. Then again, oil prices moving to the highest level through in the Trump administration is not what he needs. Especially since the American people don’t really believe the cheering coming out of the Iranian war.
