Major indexes are up slightly this week as investors cling to hopes of relief from the conflict and lower oil prices. With little data or earnings, oil still sets the pace.
Crude oil prices continue to set the tone, and their 4% rise this morning amid fears of war escalation sent major indexes sharply lower. Weekly jobless claims were as expected.
Stocks slumped heading into mid-week as news reports showed little progress ending the conflict and crude rebounded. Today brings Chewy earnings and import and export prices.
Monday's rally on news of talks with Iran faded, and renewed vigor may depend on evidence of progress toward re-opening the Strait. Earnings are light but March PMI data is ahead.
War and oil have the spotlight almost to themselves as the week ahead features little in the way of major data or earnings news. The S&P 500 hit six-month lows Friday.
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