US OPEN: The Strait of Hormuz is fully open 💥Euphoria in the markets 🚀

U.S. stock futures surged at the opening of Wall Street—Dow Jones Industrial Average futures rose by more than 500 points (+1.1%), the S&P 500 rose by 0.8%, and the Nasdaq 100 by 0.9% . The main catalyst was a statement by Iranian Foreign Minister Seyed Abbas Araghchi, who announced the full reopening of the Strait of Hormuz to commercial maritime traffic during the ceasefire with Lebanon . At the same time, Axios reported that the U.S. and Iran are negotiating a three-point memorandum of understanding (MOU) providing for the release of $20 billion in frozen Iranian funds in exchange for Iran’s renunciation of enriched uranium. 

The US100 is experiencing its fastest and largest upward surge since September 2025. Source: xStation

Crude oil prices plummeted—WTI fell more than 10% to around $84.60 per barrel, while Brent dropped by nearly 10%. Gold and silver, however, rose: spot gold gained 2% to $4,881.81/oz, and silver rose nearly 5% to $82.30/oz.

The immediate catalyst for the move was Tehran’s declaration that it would fully open the Strait of Hormuz—a key shipping route through which approximately 20% of global oil trade passes—for the duration of the Israeli-Lebanese ceasefire announced by President Trump. Previously, following the first round of peace talks in Islamabad, Iran had only partially opened the strait to select vessels. The prospect of a second round of talks in Islamabad this coming Sunday and progress in negotiations regarding 450 kg of uranium enriched to 60% purity—stored in Iran’s underground facilities—further bolster market optimism regarding a lasting end to the conflict.

Volatility is currently evident in key markets. Source: xStation

Key company information: 

• Netflix (NFLX, -10%)  — The streaming giant’s shares are seeing their steepest decline since October following disappointing Q2 guidance: EPS is forecast at 78 cents versus the 84 cents expected by LSEG. Adding to the blow is the announcement that co-founder Reed Hastings will step down from the board in June. However, many analysts recommend buying the dip, pointing to solid Q1 results—revenue of $12.25 billion (+16% y/y) beat the consensus of $12.18 billion. Netflix is also abandoning its bid to acquire Warner Bros. Discovery.

• Ally Financial (ALLY) +4.27% — The bank’s stock is rising following the release of its Q1 results, which beat earnings estimates: EPS came in at $1.11 per share versus the FactSet consensus of $0.93 — a solid beat. Revenue came in at $2.10 billion, slightly below the estimated $2.14 billion, but this did not prevent investors from reacting positively to the report. The stock is currently trading at $41.96, above the 50-day moving average ($40.06), suggesting continued upward momentum.

• Oracle (ORCL, +3%)  — The stock gains another 3% and is on track for its sixth consecutive session of gains. The company is up more than 30% for the week—its best week since 1999—driven by market enthusiasm surrounding AI and cloud contracts.

• Alcoa (AA) -2% — The aluminum producer is down following mixed Q1 2026 results: adjusted EPS came in at $1.40 per share versus the LSEG consensus of $1.49 — a slight disappointment on the earnings front. Revenue came in at $3.19 billion, below the estimated range of $3.28–$3.40 billion, representing a 5.2% year-over-year decline. On the positive side, however, net income saw strong sequential growth—rising to $425 million from $213 million in Q4 2025 (+99.5%), driven by a 12.3% quarter-over-quarter increase in primary aluminum prices to $4,209 per metric ton. The company confirmed its full-year targets for 2026, which limits the sell-off; however, pressure on the alumina segment (negative EBITDA: -$40 million) and rising energy and freight costs remain key risk factors.

• Affirm (AFRM, +3%) — Morgan Stanley has named the company a top pick, citing its earnings growth potential and easing concerns about the private credit sector. The stock has fallen 19% since the start of 2026, which analysts view as an attractive entry point.

• Knight-Swift (KNX, -1%) — The trucking company lowered its Q1 guidance, citing winter weather and rising fuel costs in March as additional factors putting pressure on the trucking sector.