Why Stocks Are Breaking Free of Oil Crisis Tyranny
Resilience in the US suggests a strong appetite to carry on with the bull market.
Momentum is barreling onward.
Photographer: Charly Triballeau/AFP/Getty
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The week started with bad news to digest from the Persian Gulf on the breakdown in ceasefire talks and the Strait of Hormuz blockade, with oil prices rising sharply once more. First-quarter earnings season kicked off with some unpleasant surprises from Goldman Sachs and the industrial bellwether Fastenal, both of which sold off. A flurry of more positive headlines about offers in the US-Iran negotiations didn’t come until after the close.