Story
Stocks Surge into April on War Deescalation.
The war in the Middle East, rising Treasury yields, and stubborn inflation were key catalysts that led to significant drawdowns in the major averages before a reversal at the end of the month. Driven by hopes of an end to the Iran War, equities surged into April, trimming March's steep losses. The bulls attempted to turn the tide early in the period as every dip was bought, even as investors continued rotating into safer assets while rising yields weighed on interest sensitive and housing-related stocks. Global markets were also under pressure, bowing to a 52% spike in crude oil prices. Higher fuel prices hit transportation stocks hard with the US Global Jets ETF (JETS) losing –16.9%, causing the DJ Transportation Index to break below its 50-day MA...
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