Oil prices rise as Iran war questions linger

All right, so let's bring in CBS News business analyst Jill Schlesinger. So Jill, want to talk oil for a little bit. Roller coaster ride, as Kelly just indicated, continues today. It does seem as if we-- markets rallied, which is sort of interesting to me because we know how the president, after 10 years, operates, which is that he declares victory, so people start reacting to that, and the markets go up and the price of oil goes down. But anybody with a brain can see there really isn't a victory in the traditional sense. Now the markets are coming sort of back down to Earth a little. How does an investor think about all this? It depends what kind of investor. My kind of investor, the kind of people who are long-term investors and they're saving in their retirement accounts, I would very much hope that people can tune out the noise, especially when it comes to their investments. I mean, you should watch the news, but you shouldn't move your portfolio around.

Exactly. And I think it's very tantalizing when you see high highs and low lows. It makes you feel like you should do something. But as I like to say, taking no action is an action in and of itself. You don't have to feel like you should do something. You could just say, hey, you know what? I got my portfolio, I got my diversified, I got some stocks, I got some bonds, I got some international, a little commodities on the side-- I'm going to let it alone. That should be the set it and forget it mindset of a long-term investor. It's really hard, too, because, guys, you know this better than anybody, but even me, earlier this month-- I mean, every month I have a certain amount of-- the money that I put for household expenses goes to that, but then I have a certain amount of money that goes every month into the stock market as dollar cost averaging. And even I was like, should I call and just, like, put a hold on this? And I'm like, no, because it doesn't matter what's happening today. I won't need the money until 5, 10-- you know what I mean? I had a funny exercise that I did earlier this week. So on Monday, it was my 18-year anniversary here at CBS. [INTERPOSING VOICES] Thank you. Mazel tov. Thank you very much. And I went back and I just thought it was funny because it was 2009, which was really--

Oh, wow. --April 2009, the markets were still terrible. They had just bottomed out in March. We didn't know that. But the Dow was like at 7,500. And now it's at 45,000, 46,000. And I went back and I said, what was the first segment I did, and let me see the three pieces of advice that I gave.

That's so cool. And I was like, I hope it was right. And so-- Because if it wasn't, what did I do on the next day? So it was interesting because I went back and I said, you don't have to buy the bottom. You don't have to sell the top. You have to remain invested. You should have a game plan. You should have some sort of financial plan. And you shouldn't muck around with it too much. And you should always have 12 to 18 months of your expenses in an emergency reserve fund. I still stand by that. I think that the advice that's tried and true when it comes to long-term investors really does work. And that was a great illustration of it. You were probably really scared to keep contributing to your 401(k) in 2009, when the Dow was at 6,600. You were really worried about your job because we were approaching 10%, 11%, 12% unemployment at that time. And that recession lasted for 18 months. So having money in your emergency reserve really did serve you well. And it seems like-- people say to me, well, that's just such boring advice. Well, it works, so go for it. I love that. 18 years later, still working. That's it.

Jill, thank you very much. Appreciate it.