Commentary
The S&P 500 rose 4.4% in the first 10 days of April, and NASDAQ is up 6.1%, after Iran and the U.S. agreed to a two-week ceasefire brokered by Pakistan. During this ceasefire, the Strait of Hormuz was initially opened up in a limited way to alleviate crucial shortages of crude oil and fertilizer, but that flow of ships was very limited last week and may be terminated again as the peace talks broke up last weekend.
