●       Wall Street soared to a lifetime high on TACO (Trump Always Chickens Out) trade amid hopes of a US-Iran peace deal MOU. ●       Ahead of the Nov’26 mid-term election,  chaotic Trump is in a dilemma as any ‘undue’ concessions to Iran may cost him ‘MAGA’ support. ●       But too much hard stance & the SOH double blockade and higher oil may cost him the midterm and trifecta . As of May 6, 2026, US-Iran indirect negotiations (through Pakistan) have entered a decisive phase, with Iran expected to deliver its formal response today to a US-drafted one-page memorandum aimed at ending the early 2026 Iran War. Mediated primarily by Pakistan, the talks come amid cautious optimism from President Trump and mounting international pressure to resolve the crisis that has crippled navigation through the Strait of Hormuz. (SOH). Trump has described “very good talks” over the past 24 hours, while Saudi-based...

  ●       Although the war of attrition of Iran may be over, the SOH double blockade is not, and lingering elevated energy (oil & gas) may drag Wall Street & Main Street down. ●       Apart from Iran war ceasefire optimism, earnings & AI/big tech optimism are also helping Wall Street. ●       At around $1642 EPS for CY25 (GAAP) and 50000 levels, the current PE is 30 for DJ-30 , at the historical bubble zone. Wall Street futures surged over 10% in April on hopes & hype of an imminent peace deal between Iran and the US. The US-Iran peace talks remain stalled in a tense "no war, no peace" standoff, now roughly 60+ days into the conflict. The core dispute is Iran's nuclear program: the US (under President Trump) demands a comprehensive deal that permanently prevents Iran from developing nuclear weapons, while Iran wants to de-escalate other issues first and postpone nuclear discussions. K...