🟣📆🇺🇸 Pre-Market - 4/14: Moderate Rebound with Lower Oil and Focus on Iran. Global stocks opened higher, with modest gains, while oil fell back below $100. The main driver is the geopolitical front: the US and Iran continue negotiations, and although there is no agreement, both sides acknowledge progress. The market reacted well to the clarification regarding the Strait of Hormuz: the blockade would be limited to Iranian ports and not to global transit. This distinction was key to reducing the risk of a supply shock and explains why volatility continues to fall even with an active military presence. In this context, the S&P 500 has already recovered to pre-conflict levels, banks are leading the gains, and the focus is beginning to shift to earnings. Several major companies are reporting today, following a strong opening from Goldman Sachs. The risk remains the same: any incident in Hormuz that pushes crude back above US$100 could quickly change the market's tone. For now, the "risk-on" sentiment prevails.