Trump Says Iran Talks Underway, Calls It 'Last Chance' as Markets Rally
Key Takeaways
- •President Trump characterized ongoing Iran negotiations as a final diplomatic opportunity initiated at Iran's request, with discussions focused on the Strait of Hormuz.
- •Crude oil prices declined roughly 5.86% to $79.80 per barrel as the possibility of diplomacy reduced immediate concerns about supply disruptions through the Strait.
- •Major U.S. stock indices recorded solid gains, with the NASDAQ rising 2.23%, the S&P 500 up 1.54%, and the Dow Jones up 1.23%, driven by broad-based buying across multiple sectors.
- •Trump reiterated his firm position that Iran cannot possess nuclear weapons, while acknowledging that the denuclearization process would require time.
- •The president publicly called on oil companies to lower retail gasoline prices, stating that they are earning excessive profits, with the average gallon of gasoline at $4.09.
President Donald Trump delivered remarks indicating that ongoing diplomatic discussions with Iran are progressing, characterizing the current negotiations as a final opportunity for resolution.
"Conflict is working out very well," Trump stated. "Iran talks are going on now at their request. Iran wanted to talk about the Strait. This is the last chance."
The Strait of Hormuz, referenced by the president, is one of the world's most critical energy chokepoints, through which roughly a fifth of global oil consumption transits daily. Any disruption there has historically sent crude prices sharply higher, making its status a central concern for energy markets and Gulf state economies.
The president indicated that Gulf nations had appealed for "one last chance" and expressed optimism that the Strait could be open by the following day. On the subject of denuclearization, Trump acknowledged that the process "will take a little while," while reiterating his firm stance: "Iran cannot have nuclear [weapons]."
Trump noted that most people desire peace, but acknowledged the cyclical nature of the situation, referencing a period of relative stability prior to February 28.
The president also addressed oil companies directly, asserting they are "making too much money" and stating, "I don't like it." He urged oil firms to cut retail prices.
Crude oil prices were continuing to trade lower, down approximately $5.04, or 5.86%, at $79.80. The pullback came as the prospect of diplomacy eased immediate fears of a supply disruption through the Strait. The average price of a gallon of gasoline stood at $4.09.
Major U.S. stock indices held onto solid gains, with the Dow up 1.23%, the S&P up 1.54%, and the NASDAQ up 2.23%. The NASDAQ 100 rose 1.85%. The rally was broad-based, spanning defense-oriented names, energy infrastructure, solar and power-equipment manufacturers, and large-cap technology—sectors that typically react differently to geopolitical risk, collectively reflecting a market-wide shift toward risk appetite.
Notable gainers included:
- Crown Holdings (CRWV): $84.10 (+17.17%)
- Nebius Group (NBIS): $220.33 (+15.71%)
- First Solar (FSLR): $237.78 (+12.67%)
- Coherent (COHR): $290.85 (+10.64%)
- Lumentum Holdings (LITE): $781.50 (+9.46%)
- SoFi Technologies (SOFI): $17.80 (+9.17%)
- Vertiv Holdings (VRT): $263.12 (+8.92%)
- Oracle (ORCL): $140.32 (+8.05%)
- Boeing (BA): $231.36 (+7.04%)
- Sandisk (SNDK): $1,299.00 (+6.93%)
- Bloom Energy (BE): $219.99 (+6.89%)
- Defiance Drone & Modern Warfare ETF (JEDI): $25.45 (+6.44%)
- Corning (GLW): $147.12 (+6.42%)
- Robinhood Markets (HOOD): $92.07 (+6.37%)
- Meta Platforms (META): $590.98 (+6.16%)
- Roblox (RBLX): $37.78 (+6.14%)
- Astera Labs (ALAB): $326.77 (+4.99%)
- Credo Technology (CRDO): $217.00 (+4.84%)
- NVIDIA (NVDA): $208.02 (+3.62%)
