STOCKS | Nasdaq Hits Record High as Hormuz Strait Reopens

On April 18, Jin10 reported that the reopening of the Hormuz Strait has led to a record-breaking 13-day rally for the Nasdaq, while U.S. oil prices have plummeted and gold and silver have surged. According to Jin10, Matt Powers, managing partner at Powers Advisory Group, suggests that the market may have reached a short-term bottom, but its overall trajectory remains highly dependent on external factors. Powers warns that the current market is still driven by headlines, with oil price movements, Federal Reserve policy changes, and geopolitical developments potentially altering market sentiment rapidly. He notes that the swift recovery of U.S. stocks indicates a solid underlying trend, reflecting the market's strong resilience. Powers emphasizes that for the market to sustain its upward momentum, broader participation from more sectors and individual stocks is necessary, along with robust corporate earnings performance as a key support factor. UBS strategists also express optimism, stating that U.S. stocks have room for growth in the coming year, supported by strong corporate profit growth and a stable U.S. economy.