The Impressive Nasdaq-S&P 500 Winning Streak Continues

U.S. equity markets reverse more than 100% of the wartime loss but financial conditions have only retraced 68% of their tightening move

Key Takeaways

• Stock Markets March On: The “what me, worry” stock market continues to price out the war (Iran’s economy has now been seriously crippled) and price in a very bright future, though there is no sign the global energy and shipping crunch is over. U.S. equity futures are up yet again (despite Netflix’s disappointing guidance, which sent the share price sliding -10% in the overnight trade) as the Nasdaq Composite hit another record on its way to its longest win streak since July 2009 — twelve straight days.