Oil plunges as peace optimism fuels record rally.

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U.S. stocks surged to fresh record highs on Friday, with the S&P 500 closing above 7,100 for the first time and the Nasdaq Composite extending its rally to a 13-day winning streak, its longest since 1992. The move highlights continued momentum as markets push higher.

Sentiment was driven by easing geopolitical concerns after Iran signaled that the Strait of Hormuz would remain open during the ceasefire period. The development reduced fears of prolonged supply disruptions and reinforced expectations that tensions in the Middle East may continue to de-escalate.

Oil prices reacted sharply, with WTI crude dropping nearly 12% and Brent crude falling around 9%. The decline helped support equities broadly, particularly sectors sensitive to fuel costs and global trade.

The rally was broad-based, with reopening-sensitive names leading gains. Royal Caribbean (RCL) jumped around 7%, Boeing (BA) rose about 2%, while consumer and travel-related names such as Amazon (AMZN) and Airbnb (ABNB) also moved higher as sentiment improved.

Attention is now shifting to the next catalysts, with March retail sales data and upcoming earnings from Tesla (TSLA) in focus. Investors are looking for signals on demand strength and whether earnings can support the market at record levels.

📊 Market Wrap

🧠 Analyst Notes

💬 Market Highlights

Greg Abel Begins Reshaping Berkshire Hathaway

Greg Abel is starting to put his own stamp on Berkshire Hathaway (BRK.B) with a more active leadership approach, including restarting share buybacks and expanding into Japan. He is also seen as more willing to address underperformance, potentially replacing management or divesting weaker businesses. A key test will be how he deploys Berkshire’s massive $373 billion cash reserve in future market downturns.

Google Explores New AI Chip Partnership

Google (GOOG) is reportedly in discussions with Marvell (MRVL) to develop new AI chips, including a memory processing unit and a TPU focused on inference workloads. The move is part of a broader strategy to reduce reliance on Nvidia GPUs while strengthening its in-house AI ecosystem, potentially supporting long-term growth in Google Cloud.

Apple Signals Siri Reboot as Mac Delays Emerge

Apple (AAPL) is expected to introduce a major Siri overhaul at WWDC 2026, featuring a chatbot-style interface and improved AI capabilities. However, some hardware launches, including new Macs, may face delays due to memory supply constraints, as Apple focuses on improving software performance and enterprise features.

📅 Earnings Watch

Markets are now balancing easing geopolitical risks with the start of earnings season, with investors watching whether strong corporate results can sustain the rally at record levels.

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