Key Events This Week:
BTC
ETH
Key Events This Week:
- Goldman Sachs $GS Earnings - Monday
- JPMorgan Chase $JPM Earnings - Tuesday
- Citigroup $C Earnings - Tuesday
- Wells Fargo $WFC Earnings - Tuesday
- U.S. PPI Inflation - Tuesday 🚨
- Morgan Stanley $MS Earnings - Wednesday
- Bank of America $BAC Earnings - Wednesday
- NY Fed Manufacturing Survey - Wednesday
- Taiwan Semi $TSM Earnings - Thursday
- Initial Jobless Claims - Thursday
- Philly Fed Manufacturing Survey - Thursday
- Netflix $NFLX Earnings - Thursday
• Crude Oil jumped sharply to $103.64, up over 7%, after President Trump announced a U.S. Navy blockade of the Strait of Hormuz following the collapse of weekend peace talks with Iran. Brent crude gained nearly 8% while WTI surged above $104, with analysts warning prices could reach $150 per barrel if the blockade is sustained.
• S&P 500 futures fell roughly 1% and Dow Jones futures dropped around 1.2% - signaling over 580 points lower at the open - as investors unwound last week's ceasefire-driven rally. The S&P 500 had gained 3.6% the prior week on optimism around a short-lived truce, gains that are now at risk of being erased.
• The U.S. dollar rallied broadly in Asian trading, with the Dollar Index climbing as much as 0.5% to 99.187, its highest level since April 7. The EUR/USD slipped 0.29% to $1.17, while risk-sensitive currencies like the Australian dollar and South African rand led declines, falling 1.1% and significantly, respectively.
• Gold fell approximately 1.8% to $4,665.88 per ounce as a strengthening dollar and fading Fed rate cut hopes outweighed safe-haven demand, even as the Hormuz blockade rattled markets. Analysts note that oil-driven inflation complicates the Fed's path, keeping rates elevated longer - a headwind for the metal despite the geopolitical floor it provides.
