"The pulse that pushed VIX above 30 in late March has faded. President Trump paused the U.S. operation to escort commercial ships through the Strait of Hormuz, citing 'Great Progress' toward an Iran agreement, while warning bombing would resume 'at a much higher level and intensity' if Tehran balks."
"WTI crude sits near $100, down from a peak around $115 in early April, pulling inflation worry off the table. The 10-year Treasury yield holds at about 4.5%, a benign backdrop for risk assets."
"The AI memory supercycle is doing the heavy lifting under the tape. Advanced Micro Devices (Nasdaq: AMD) is soaring by 16.2% on AI profit tailwinds, leading the broader chip sector higher in a rally reminiscent of the dot-com bubble."
The S&P 500 is experiencing renewed optimism as the VIX approaches 18, down from a peak of over 31 in March. Oil prices are falling sharply due to potential U.S.-Iran agreements on nuclear enrichment, alleviating supply disruption fears. WTI crude is below $100 per barrel, contributing to improved investor sentiment. The AI memory supercycle is driving significant gains in tech stocks, particularly Advanced Micro Devices, which is up 16.2%. Seagate and Western Digital also exceeded expectations, benefiting from high-capacity HDD demand.
Read at 24/7 Wall St.
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