Market Whipsawed by U.S.-Iran Negotiation Outlook
Conflicting accounts over the likelihood of U.S. and Iran coming to the negotiating table continue to whipsaw the market. For the second time this week, investors faded the opening highs on Wednesday following overnight speculation of an impending truce as optimism gave way to caution, particularly in light of reports that more US troops are heading to the Persian Gulf. Basic Materials shined among the S&P 500 sectors once again while Energy lagged as the market remains leery of retreat in oil prices from tempered supply risk in the event of a more meaningful progress toward de-escalation.In the opening hour of the evening session, S&P e-minis and Nasdaq 100 contracts are both down 0.1%. In commodities, WTI Crude Oil sits just above $91 per barrel - slightly higher from U.S. trading close. Precious metals meanwhile are consolidating Wednesday's strong gains - Gold is above $4,500 and Silver is pulling back below $71.50 per ounce.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Noodles & Companyup 21.0%Navanup 20.3%H.B. Fullerup 0.5%ALSO HIGHER -Hallador Energyup 7.8% after securing 3-year agreement to sell remaining accredited capacityGrocery Outletup 3.5% after insider buyDOWN AFTER EARNINGS -MillerKnolldown 17.7%Worthington Steeldown 12.9%Journey Medicaldown 8.1%Marchexdown 8.1%Celcuitydown 2.9%
