Oct 6, 2026 · 39 min · 14 segments
Stocks are hitting fresh highs as oil prices and bond yields move lower, but the biggest force behind the market remains the continued strength of the AI trade. Mike Armstrong and Marc Fandetti…
S&P 500 sitting at 7,835, up, what do we got today, three-quarters of a percent thereabouts.
I think, again, every time we get some renewed optimism about energy flows through the Middle East, investors seem to put that risk behind them pretty quickly.
I don't see anything that would convince me that we are done with energy threats from the Middle East.
But nonetheless, here we are with markets hitting new all-time highs and, again, assessing some reduced risk from there.
And again, the reporting on this, by the way, It seems to be that, yeah, 70%, 80% of the oil that was flowing previously through the Strait of Hormuz is flowing again right now, albeit at a much higher cost to transport it.
They've hit an all-time high under virtually every president in the modern era because the economy tends to grow.
trends that you have to try really hard to break and thank goodness the exceptions have been few and far between so if you had to guess on any given day stocks up or down today you would actually say up yes and statistically that's that's a stop that's you
know what's up your head what it is like it's 60 percent on a day-to-day monthly
Which, in my experience, people read too much into and focus too much on that because I can't tell you how many times people say, you know, I've got this money that I know I need to spend a year from now.
S&P 500 sitting at 7,835, up, what do we got today, three-quarters of a percent thereabouts.
I think, again, every time we get some renewed optimism about energy flows through the Middle East, investors seem to put that risk behind them pretty quickly.
I don't see anything that would convince me that we are done with energy threats from the Middle East.
But nonetheless, here we are with markets hitting new all-time highs and, again, assessing some reduced risk from there.
And again, the reporting on this, by the way, It seems to be that, yeah, 70%, 80% of the oil that was flowing previously through the Strait of Hormuz is flowing again right now, albeit at a much higher cost to transport it.
They've hit an all-time high under virtually every president in the modern era because the economy tends to grow.
trends that you have to try really hard to break and thank goodness the exceptions have been few and far between so if you had to guess on any given day stocks up or down today you would actually say up yes and statistically that's that's a stop that's you
know what's up your head what it is like it's 60 percent on a day-to-day monthly
Which, in my experience, people read too much into and focus too much on that because I can't tell you how many times people say, you know, I've got this money that I know I need to spend a year from now.
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