Trump posted on Truth Social:
News Conference today, prior to Trump Kennedy Center Board Meeting. Thank you!
I still can’t find a specific start time published for today’s meeting. None of the reporting includes a scheduled time — just that it’s happening today (Monday, March 16) at the White House. The exact time doesn’t appear to have been made public, which fits with the fact hat this is a closed board meeting rather than a public event.
If I had to guess, White House meetings of this kind typically happen during normal business hours — likely late morning or early afternoon, somewhere in the 10 a.m. to 2 p.m. ET range. But that’s purely speculation on my part.
Obviously any comments about the war will be critical. Perhaps he’s already hinted that he’s going to walk away (or declare victory) and that’s why oil is so heavy today. It’s turned into a mess and it doesn’t look like ‘allies’ are lining up to send their navy to clean up the mess in Hormuz.
It’s also possible that Iran has begun to negotiate or there is some other off-ramp unfolding.
Equally possible is that nothing new is announced at this news conference and the bombing and blockade continues. The biggest headline on the weekend for me was Iran saying it would allow ships through that weren’t tied to the US, Israel or allies. That’s a long list and oil is fungible but it all depends on how you define ‘allies’. Does that include Japan?
For now, the price action is the story today and it’s good as WTI for May is down $3.37 to $93.54 and the S&P 500 is up 1.2% to a session high. Bonds are also getting on board with 10-year yields down 6.3 bps.
