Sustained S&P 500 Rally Hinges on Broader Participation and Resolution of Hormuz Disruption
Global equities rose to new highs this week on hopes for a U.S.-Iran peace deal, but Barclays strategist Emmanuel Cau cautions that a durable, broader market rally requires both reopening of the Strait of Hormuz and participation beyond the stretched semiconductors trade. Barclays points to liquidity support, strong first-quarter earnings driven by…