Markets surge, oil prices drop after fragile Mideast ceasefire

After several tense days in the Middle East, markets are on the upswing — and oil prices are falling — following news of a fragile ceasefire between Israel and Iran.

The rally comes on the heels of President Trump’s targeted strike on Iran’s nuclear facilities. Iran’s retaliation was minimal, with no U.S. casualties and no major oil infrastructure hit. The limited response and rapid return to a shaky ceasefire appear to have eased investor fears — at least for now.

The market reaction was swift: stock indexes climbed and oil prices dropped, signaling Wall Street's relief that the region may be stepping back from the brink of escalation.

Still, not all the economic signals are upbeat. The latest consumer confidence report — based on data gathered before the strike — showed sentiment falling unexpectedly to 93, well below economists’ expectations.

Alicia Summers spoke with Ed Siddell, CEO and Chief Investment Strategist at EGSI Financial, about the shift in investor mood.