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Scott Bessent
U.S. Treasury Secretary
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His comment sends stocks soaring at the open - Dow up 678 points to a fresh record led by Caterpillar (+11%) - while Trump warns Iran the talks are the last chance to end the war and U.S. crude trades below $78.
I think there is a chance we may have a deal today or tomorrow to open the Strait and move towards a more normalized position in this conflict.
S&P 500 since this was said: ▲ +0.1% · 7,737 → 7,742 · as of 2026-08-05
Dismisses weak Q2 GDP as SPR technical adjustment; core strong.
We released a big amount of oil from Strategic Patrol and Reserve and that came out of GDP so the good news is core GDP was actually quite strong Ed and you know we're seeing manufacturing is doing well the jobs numbers are strong the consumer is strong so it was a technical adjustment in the number I wouldn't worry about it.
Energy-driven inflation comes down on the other side of the Iran war. EVENT: will, conditional.
The energy can will be volatile and but we'll get to the other side of the Iran war and you know it will come down last month we saw the the biggest drop in many years so you know we see how quickly the it responds to the energy prices.
US watermark evidence framing; stolen-technology claim vs the China AI rally.
There's a lot of frustration I'm getting from the US side related to the things that China is doing and the stealing that's going on from China from the United States.
the end = yen garble; hours before the BOJ decision, after suspected intervention
“the market will realize the end is undervalued and should strengthen”
day after reported US-assisted intervention with yen at 160
“Japanese yen seems very undervalued to me. The currency is very cheap.”
In the same clip he says Treasury is tracking the Ayatollah's $100 million-plus properties and IRGC accounts worldwide and 'We froze a crypto wallet linked to the IRGC the other day, about $130 million' @0:18.
“Their currency has collapsed. It is at an all-time low versus the dollar. It's in free fall. And we think the inflation rate is upwards of 180 percent.”
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