Week in Markets
Week in Markets: Hormuz Reopens Then Closes, S&P 500 Hits Record, Banks Crush Q1, Kelp DAO Loses $292M
Iran reopened Hormuz Thursday and oil crashed 11%, sending S&P, Nasdaq and Dow to fresh records. Iran reversed Saturday and the USS Spruance seized an Iranian cargo ship Sunday. Underneath: PPI cooled, China beat at 5.0%, banks delivered record trading revenue, and Kelp DAO lost $292M to Lazarus Group.