Hormuz Hope Sparks Stocks' Longest Win Streak In 6 Months; Bonds, Bullion, & Bitcoin Bid

Tl;dr: A gentle drift higher in oil (lower in stocks) overnight (amid ongoing uncertainty on SoH transit) gave way to a pop in crude futures into the US equity open (on UAE Oil Chief's comments on SoH not being open). Mid-morning saw hopeful tones from Israel & Lebanon (and Trump), sending oil lower and stocks higher (longest win streak in six months) with bonds, gold, and bitcoin all bid as the dollar slipped as CB expectations shifted dovishly.

The S&P 500 was up for the seventh day in a row today - its longest win streak since Oct 2025...

Oil