SPY, QQQ, DIA Rise After-Hours As Trump Says US Considers Winding Down Iran Military Operations

• Trump said in a post on Truth Social that the U.S. was closing in on meeting its objectives in Iran. 
• The comments come amid escalating tensions in the Middle East as the Iran war intensifies, choking off the critical Strait of Hormuz and disrupting oil supplies. 
• U.S. stock markets climbed higher in extended trading hours.

U.S. stock markets crossed into green territory in Friday’s extended trading hours after President Donald Trump said that the administration is considering winding down its military operations in Iran as it gets “very close” to meeting objectives.

The SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, climbed 0.82% at the time of writing, the Invesco QQQ Trust ETF (QQQ) was up 0.71%, and the SPDR Dow Jones Industrial Average ETF Trust (DIA) was 0.68% higher.

The comments come amid escalating tensions in the Middle East as the Iran war intensifies, choking off the critical Strait of Hormuz and disrupting oil supplies.

What Trump Said

Trump said in a post on Truth Social that the U.S. was closing in on meeting its objectives in Iran, which include crippling Iran’s missile capabilities and defense industry, dismantling its naval and air forces, preventing it from developing nuclear weapons, and ensuring strong protection for key regional allies like Israel and Gulf nations.

He also said that the Strait of Hormuz will need to be guarded by the nations that use it, adding that other nations, not the U.S., must guard the strait.

“The Hormuz Strait will have to be guarded and policed, as necessary, by other Nations who use it — The United States does not! If asked, we will help these Countries in their Hormuz efforts, but it shouldn’t be necessary once Iran’s threat is eradicated. Importantly, it will be an easy Military Operation for them,” Trump said.

Oil Prices

Meanwhile, oil prices surpassed $113 a barrel earlier on Friday after Iran struck multiple energy assets across the Middle East, including facilities in Qatar and Saudi Arabia, in retaliation to Israel’s attack on South Pars.

At the time of writing, ICE Brent Crude futures expiring in May were trading around $108.6 per barrel, while WTI Crude expiring in April were at $98.81 per barrel.

The United States Oil Fund (USO), which tracks the movement of WTI crude, was down nearly 3% in Friday’s extended trading hours.

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