WS #4947

The data dump reveals a significant de-escalation in the Strait of Hormuz crisis, which was previously the dominant market-moving narrative. Multiple sources, including Bloomberg-sourced social media posts and market commentary, indicate that the S&P 500 has rallied to erase all losses since the start of the Iran war, attributed to a temporary ceasefire agreement and the onset of US earnings season. This counters the previous high-significance bullish oil/energy signal and suggests a shift towards risk-on sentiment, potentially bullish for broad indices (SPY, QQQ) and bearish for the energy sector's recent surge. Concurrently, corporate developments are emerging as key signals: Goldman Sachs reported strong Q1 2026 earnings with EPS beating estimates by 7%, though its stock traded lower, indicating mixed sentiment. Bloom Energy announced an expanded partnership with Oracle for up to 2.8GW of fuel cell systems to support AI infrastructure build-out, a bullish signal for BE and potentially for AI-related utilities. MarketWise provided preliminary Q1 results showing billings growth and affirmed guidance, positive for MKTW. In geopolitics, North Korea's test-firing of cruise missiles adds a minor risk factor, but the dominant theme is the apparent easing of the Iran conflict, which should dampen oil price pressures and support equities.