Week in Markets: Oil Collapses on Iran De-Escalation, S&P 8th Straight Week, Dow Record, FOMC Splits, Sentiment Hits Record Low, Warsh Sworn In
Oil collapsed as Trump called off an Iran strike and said the war would end "very quickly," with Brent down 6% to $103.54 and WTI breaking below $100. The S&P 500 posted an 8th straight weekly gain and the Dow closed at a record 50,579.70. But the FOMC minutes revealed the most divided Fed since 1992 with four dissents and a hike bias, University of Michigan consumer sentiment hit an all-time low of 44.8, and five-year inflation expectations jumped to 3.9%. Kevin Warsh was sworn in as the 17th Fed Chair Friday. Nvidia posted a record $81.6B quarter. Walmart guidance disappointed on fuel costs. Bitcoin held flat near $77,000, rejected below $80K for a third week, as spot BTC ETFs bled $1.26B. HYPE surged 40%+ on its first US spot ETFs. The market traded the exit before the deal was signed.