Stocks May Survive War — But What Happens To ETFs At $120 Oil?

Wall Street's initial response to the latest escalation in Iran has a clear message: geopolitics, in itself, is not a big enough deal to derail the U.S. stock market. At least, not according to Wall Street strategists. • What’s behind XLE new highs?Per Bloomberg, Morgan Stanley's Mike Wilson wrote a note to clients that past geopolitical shocks have typically failed to produce sustained volatility for U.S. stocks.Unless oil prices jump in a "historically significant manner," there is little reason to change ...