Market Morale

Ceasefire momentum had stocks jumping for joy.

The S&P 500 and Nasdaq closed above 7,000 and 24,000, respectively, for the first time on Wednesday, riding an optimism wave for a U.S.-Iran ceasefire. Markets continued ascending Thursday after Israel and Lebanon’s battle pause.

Uncle Sam’s Hormuz blockade—fully implemented in under 36 hours—has cut off 90%+ of Iran's seaborne trade, tightening the screws on Tehran to make a deal. Washington has also threatened further Iranian oil sanctions, calling it the “financial equivalent” of a bombing campaign, and Secretary Hegseth said the U.S. was “locked and loaded” for continued combat.

Stateside, the House (214-213) and Senate (52-47) both narrowly rejected War Powers resolutions this week in largely party-line votes. The resolutions would have required President Trump to receive Congressional approval before launching future military action against Iran.

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Verse to consider whether you’re jumping with joy like the market or slogging through trials: “May the Lord bless you and protect you; may the Lord make his face shine on you and be gracious to you; may the Lord look with favor on you and give you peace.” 
Numbers 6:24-26 (CSB) (read full passage)