President Donald Trump stated on June 3, 2026, that he is "very proud" of the decision to engage militarily with Iran, asserting that the conflict has not negatively impacted the economy and has coincided with record stock market gains. Speaking to reporters, Trump noted that the stock market has reached new highs despite the ongoing military actions, claiming that many Americans' retirement accounts are benefiting from this economic climate.
He stated, "Everyone’s 401(k)s are the highest they’ve ever been. Everybody’s making a lot of money. Costs are coming down. Everything’s good." However, consumers have experienced increased costs, particularly in energy prices, following disruptions in oil shipments through the Strait of Hormuz. As of June 2, 2026, the national average price for regular gasoline was $4.29 per gallon, which is higher than pre-war levels.
The conflict has led to increased profits for financial institutions and energy companies, with JPMorgan reporting $11.6 billion in revenue from its trading division in the first quarter of 2026. Energy companies such as Shell and TotalEnergies have also reported stronger-than-expected earnings due to the market's reaction to the conflict.
Defense contractors have seen increased demand for military equipment, with companies like Lockheed Martin, Boeing, and Northrop Grumman reporting record order backlogs. The military conflict showed no signs of de-escalation, with Iran launching missile and drone attacks on Kuwait and Bahrain, prompting U.S. retaliatory strikes.
Diplomatic efforts have weakened recently, particularly regarding disputes over Israel's military actions against Hezbollah. Four House Republicans voted with all Democrats to restrict Trump's war powers, indicating a lack of consensus on the administration's approach to the conflict.
