About that presidential address...
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 2 April 2026
⏱️ 8 minutes
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Summary
The president made the case for the Iran war, and markets were not impressed. After President Donald Trump's address to the nation last night, the price of oil went up, and stocks went down. This is a total reversal of what markets were doing going into the speech, when stocks rallied, and oil prices fell. We'll get into it all and provide some key takeaways. Then, Marketplace’s David Brancaccio takes a trip to a West Hollywood pawn shop.
Transcript
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| 0:00.0 | The president made the case for the Iran war. |
| 0:03.9 | Markets were not impressed. |
| 0:06.5 | From Marketplace, I'm Sabri Beneshore, in for David Brancaccio. |
| 0:09.9 | After President Trump's address to the nation last night, the price of oil went up and stocks went down. |
| 0:15.9 | This was a total reversal of what markets were doing going into the speech. |
| 0:20.0 | When stocks rallied and oil prices |
| 0:21.7 | fell. Investors had been hoping for more information from the president about when the war with Iran |
| 0:26.5 | might be over. Instead, we heard that military strikes are going to be intense over the next two to |
| 0:31.5 | three weeks and that the effective closure of the Strait of Hormuz is not the United States' problem. |
| 0:36.9 | Marketplace's Nova Safo is here with more. Hi, Nova. Good morning. So the Strait of Hormuz is not the United States' problem. Marketplaces. Nova Saffo is here with |
| 0:38.7 | more. Hi, Nova. Good morning. So the Strait of Hormuz is, you know, at the center of what is happening to global energy prices. What did President Trump say about that? Yeah, well, the President said, as he has before, that countries which directly get their oil from the Gulf region, we don't, should be securing the passage, not the |
| 0:55.0 | United States. He also said this. When this conflict is over, the strait will open up naturally. |
| 1:01.2 | It'll just open up naturally. They're going to want to be able to sell oil because that's all |
| 1:06.3 | they have to try and rebuild. Now, he's talking about Iran there. |
| 1:15.3 | And what the president didn't address is that oil prices are set in a global market, as we're, as we know now. |
| 1:17.1 | So we're affected here as well when there are supply shocks. |
| 1:20.0 | Also, Iran has been allowing tankers. |
| 1:21.9 | It wants to allow through the straight, a few of them, including its own. |
| 1:25.9 | So without further intervention, the question is, does that become the new normal with that passageway? |
| 1:31.6 | The price of oil went up right on up after the president's stress. Does that mean |
| 1:36.5 | investors are now expecting the oil supply problem to persist for longer than they did going |
| 1:41.8 | into the speech? That certainly seems to be the consensus takeaway, and I spoke this morning with Ryan's suite |
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