Pinpoint Markets: Traders price in a longer Iran war

The biggest wild card in markets right now is how long the Strait of Hormuz will be closed to oil-tanker traffic.

The stock market eked out a tiny gain on the first trading day after President Trump launched his war against Iran, despite a jump in oil prices. Investors thought the fallout from the war would be contained, with the conflict ending quickly and oil prices falling back to pre-war levels.