The S&P 500 has returned above its pre-strike level, according to Deutsche Bank analysts, as markets price a brief war and possible US-Iran talks. With cyclical industries like information technology and finance driving increases, the index is up more than 8% from its late-March low, and futures indicate a little increase.
Index returning to levels before to the strike
"The market euphoria has continued this morning, with oil prices declining on increased hopes that the US and Iran can still strike some sort of compromise."
"In fact, the S&P 500 (+1.02%) ended above its pre-strike level on February 27, and Brent crude is down another -1.61% overnight to $97.76/bbl, which is alleviating fears about a stagflationary shock."
"In fact, the index is now up +8.55% since its closing low on March 30, giving this its second-best run over 9 sessions in the past 4 years, only eclipsed by the bounceback after Liberation Day last year."
"And cyclical companies outperformed, with financials (+1.73%) and information technology (+1.72%) leading the gains for the S&P 500, albeit Goldman Sachs (-1.87%) dropped back after their FICC revenue was below consensus forecasts in Q1."
Index returning to levels before to the strike
"The market euphoria has continued this morning, with oil prices declining on increased hopes that the US and Iran can still strike some sort of compromise."
"In fact, the S&P 500 (+1.02%) ended above its pre-strike level on February 27, and Brent crude is down another -1.61% overnight to $97.76/bbl, which is alleviating fears about a stagflationary shock."
"In fact, the index is now up +8.55% since its closing low on March 30, giving this its second-best run over 9 sessions in the past 4 years, only eclipsed by the bounceback after Liberation Day last year."
"And cyclical companies outperformed, with financials (+1.73%) and information technology (+1.72%) leading the gains for the S&P 500, albeit Goldman Sachs (-1.87%) dropped back after their FICC revenue was below consensus forecasts in Q1."
