About this episode
Brian Szytel reports stocks higher (Dow +356, S&P +0.8%, Nasdaq +1%) with bonds quiet and the 10-year at 4.42%, drifting up on Middle East turmoil and higher inflation expectations tied to energy prices. Oil continues to whipsaw amid geopolitical risk between the U.S. and Iran, including limited U.S. military escorts through the Strait of Hormuz and some fire exchanged. He says equities are holding up because S&P 500 earnings are strong: about 60% have reported with revenue growth near 10%, earnings growth around 27%, and record margins above 20% helped by a more tech-heavy index. Economic data was mostly positive: JOLTS job openings at 6.8M, new home sales at 682K, and ISM Services at 53.6. He also explains Fed currency swap lines as a longstanding liquidity tool supporting the dollar’s reserve status.
00:00 Market Wrap Overview
00:30 Rates and Oil Whipsaw
01:19 Why Stocks Hold Up
02:18 Economic Data Check
03:22 Fed Swap Lines Explained
05:02 Closing Thoughts
Links mentioned in this episode: DividendCafe.com
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