Oil Price Rally Stalls on Hopes for Diplomacy; Chip Stocks See a Wave of Dip Buying

The “resilient” consumer pivots to frugality

Key Takeaways

• Markets Looking Through Middle East Flare Up: The tenth straight day of strategic U.S. bombing in Iran and subsequent retaliation have been met with a yawn in both the oil and equity markets. The attention is more on the truce talks behind the scenes, which looks to be another classic Lucy-Charlie Brown episode with the football.