• For the most part we are shooting down the drones
• We’ve done tremendous damage to the facilities where they manufacture drones
• They are begging to make a deal
• They are lousy fighters but great negotiators
• Every President for 47 years should have done this
• Not sure we are willing to make a deal
• We are very disappointed with NATO
• We don’t need NATO
• We estimated 4-6 weeks for our mission, we’re way ahead of schedule
• The Iranian regime is saying to itself “we’re defeated”
• They now have a chance to make a deal, it’s up to them
• If they make the right deal, then the Strait will open up
• We don’t know if there are mines
• Every mine dropping ship has been struck
• We will see if they want to do it, if not we’re their worst nightmare
• Remember this about NATO “a number of months from now”
• Energy prices are all going to come back down to where they were, maybe lower

More headlines as he delivers them.

This was a bit of a bizarre speech as he conflicted himself about who is negotiating and whether or not Iran wants to make a deal.

Witkoff:

• We have strong signs a deal is a possibility
• Iran is looking for an off ramp
• We will see where things lead, if we can convince Iran there are no good alternatives
• We have presented a 15-point plan that forms the framework of a deal
• “They are looking for an exit path from the war. We told them not to make another miscalculation.”

There wasn’t much to take away from this meeting. The talking ones were the same ones we’ve heard on Truth Social and elsewhere. There was no real sign of what’s going to happen next.

The mood in market worsened as Trump talked but the lows in stocks held and there was a modest bounce from there. The S&P 500 was last down 43 points to 6549.