Breaking: Trump Officially Declares War Against Iran!
In a Nutshell
Trump formally notified Congress he is at war with Iran, gaining 60 days of military action without approval and planning a national address Thursday at 9 p.m. ET; the U.S. claims control of the Strait of Hormuz and will charge a 20% passage fee. Oil prices and related ETFs surged on renewed tensions, while semiconductors and airlines fell sharply ahead of tomorrow’s June CPI report, expected at 2.9% core and 3.8% headline. The speaker urges watching the inflation data and considering buying semiconductor dips if the conflict proves short-lived.
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Man, oh man. We just received an update from Trump and this is what we now know. What's going on, guys? It's Ricky with Techment Solutions. Hope that you guys are all having an amazing Monday. NASDAQ market ended up closing 1.9% in the red. At one point, it was down over 2%, but then into the close, we saw a quick little push and then now selling off a little bit during the aftermarket hours. The most recent update that we received is that Trump has now formally notified US Congress that the US is at war with Iran.
So what does this allow him to do right now that he's officially claiming that we are now at war with Iran, but we weren't before? The move gives Trump another 60 days to use military in the region without congressional approval. Second, Trump said strikes that began on July 7th represent military actions consistent with my responsibility to protect Americans and US interest both at home and abroad. Third, Trump also said that he will hit Iran hard tonight and had mounting tensions. The Iran war appears to be back. We'll see again if he kind of backs down on these claims or if he actually ends up following through with it.
The thing that again the official letter that was sent out was on July 10th and says Trump again is formally stated with Congress that he is at war with Iran and that he is supposed to address the nation Thursday evening at 9:00 p.m. Eastern time. So that was the biggest update of something to kind of look out for. So this week, Thursday, 9:00 PM Eastern time, something to look out for.
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