Stock Market Today: Dow Futures Fall, Oil Climbs After Trump Address

Stock futures fell and oil rose after President Trump’s prime-time address disappointed investors hoping for a quick end to the Iran war.

In an address late Wednesday, Trump said he was still seeking a diplomatic agreement to end the conflict and that U.S. military aims would be completed “very shortly.” But he also vowed to hit Iran “extremely hard” in the coming weeks and pummel the country “back to the Stone Ages.”

The lack of a clear timeline eroded hopes on Wall Street that the war might come to a speedy end and the Strait of Hormuz could open soon, allowing oil to once again flow freely from the Persian Gulf to world markets.