WEEKEND WRAP: With Trump China Visit Imminent, Stocks Do Not Pause with Tech Titans Leading the Way; Gold and Silver Marked Higher; Oil Stuck in $90-$110 Range

More of the same in the week ending Friday, May 8.

Iran and the U.S. continue a standoff in the Middle East, neither side having made any reasonable concessions on an overall peace plan. Military assets in the region are plentiful, with the U.S. and Iran each shoring up offensive and defensive capabilities.

Stocks continued to rise overall, with the Magnificent 7 and chip stocks producing outsized gains. The NASDAQ composite index is up nearly 13% year-to-date. Significantly, the NASDAQ has gained more than 5,400 points, from 20,794.64 on April 30, to 26,247.08 at the close of trading May 8, a 26% rise.

The remarkable returns for speculative tech stocks, albeit during a period of geo-political turmoil, have startled the investing community and bring into question overall market structure and general stability. While naysayers question the wisdom of pricing stocks to perfection under any circumstances, nobody on the bullish side has shown any compulsion to take profits nor deny the extravagance of the current rally.

No matter the circumstances surrounding the incredible recent returns, it is undeniably one of the most opportunistic periods in stock market history, with institutional money leading and retail flows accelerating.

There appears to be no fear and no stoping the powerful rally. Prospects for peace in the Middle East continue to fuel optimism. Oil prices have been fluctuating between $90 and $110 for WTI crude oil, though high gas prices - above a national average of $4.50 in the U.S. - threaten long term viability of sustaining expensive oil. A solution, which may be on the horizon with President Trump's planned trip to China beginning May 14, could come in less than two weeks time. Pessimism is anchored in the continuation of the conflict and the doupoly of Iran's hold of the Strait of Hormuz and the U.S. naval blockade in the Gulf region and into the Indian Ocean.

The week ahead could provide a breakthrough, though considering the U.S. military posture and Trump's hard-line attitude toward China, prospects are likely tempered that a lasting solution will be found within such a short period. Rather than seeking diplomatic solutions, Trump appears to be leaning more towards a "peace through strength" posture, which would nix any worthwhile agreement between the major global players, including China, Russia, the EU, and, to a lesser extent, India, which sits at the nexus of oil shipping lanes and need for continued importation of crude.

Stocks

The Shiller PE ratio (CAPE) stood at 42.05 (41.06 last week) at the close of trading Friday, a level second only to 44.19 reached at the peak of the dotcom spike in December 1999. The financial apparatus supporting such extremes is well aware of the incredible gap between price and value and will continue the crusade to ever more unsustainable levels. The game goes on. The financialization of the economy is nearly complete; the welfare/warfare state in control.

For those still drooling at the font of fiat, the week ahead will not offer much in terms of earnings reports, as the flow has slowed considerably over the past few weeks, most of the major companies having already posted first quarter results.

Monday: (before open) Barrick (B), Village Farms (VFF); (after close) hims|hers (HIMS), GoPro (GPRO)

Tuesday: (before open) First Majestic (AG), JD.com (JD); (after close) Karman Space & Defense (KRMN), Next Power (NXT)

Wednesday: (before open) Alibaba (BABA), Wix (WIX), eos (EOSE); (after close) Cisco (CSCO), Enovix (ENVX)

Thursday: (before open) Intuitive Machines (LUNR), Klarna (KLAR, Viking Cruise Lines (VIK), Yeti (YETI); (after close) Applied Materials (AMAT), Rumble (RUM)

Friday: (before open) Alaska Airlines (ALK), Suncrete (RMIX), PAVmed (PAVM), ARS Pharma (SPRY)

Outside of Trump's China visit, some of the more worthwhile data indicators include Tuesday's April CPI report from the BLS, expected to reflect the rising price of gas at the pump, and thus, inflation at the retail level. Leading off the week is the monthly report on existing home sales. PPI follows Tuesday's CPI numbers on Wednesday along with EIA crude oil and distillates weekly report. Thursday will feature unemployment claims and Import/Export prices prior to the open. Friday offers Capacity Utilization and Industrial Production figures for April. More from Trading View.

The question is not whether stocks will continue to rally, but how high they will go. The NASDAQ has slingshotted into the future with the S&P, and especially the Dow, lagging.

Treasury Yield Curve Rates

Date	1 Mo	1.5 mo	2 Mo	3 Mo	4 Mo	6 Mo	1 Yr
04/03/2026	3.71	3.73	3.73	3.71	3.71	3.73	3.72
04/10/2026	3.67	3.69	3.70	3.69	3.69	3.72	3.70
04/17/2026	3.69	3.70	3.73	3.70	3.69	3.69	3.64
04/24/2026	3.69	3.72	3.71	3.69	3.69	3.71	3.67
05/01/2026	3.71	3.71	3.70	3.68	3.76	3.71	3.73
05/08/2026	3.71	3.70	3.68	3.69	3.75	3.74	3.75

Date	2 Yr	3 Yr	5 Yr	7 Yr	10 Yr	20 Yr	30 Yr
04/03/2026	3.84	3.88	3.99	4.17	4.35	4.91	4.91
04/10/2026	3.81	3.80	3.94	4.12	4.31	4.89	4.91
04/17/2026	3.71	3.72	3.84	4.04	4.26	4.85	4.88
04/24/2026	3.78	3.80	3.92	4.10	4.31	4.88	4.91
05/01/2026	3.88	3.91	4.02	4.20	4.39	4.96	4.97
05/08/2026	3.90	3.92	4.02	4.19	4.38	4.93	4.95

Nothing much is happening in the treasury market except for the 30-year yield continuing to touch recent highs and threaten the five percent level. The Fed is doing its best to keep it below the 5% threshold. There shouldn't be much in the way of disruption in capital markets until Kevin Warsh is installed as the new Chairman of the Federal Reserve. A full Senate vote is slated for Monday, May 11. Jerome Powell's term ends May 15. Procedural delays could still confuse matters, but Warsh is likely to receive the necessary votes to move forward.

Spreads:

2s-10s
2026
1/2: +72
1/9: +64
1/16: +65
1/23: +64
1/30: +74
2/6: +72
2/13: +64
2/20: +60
2/27: +59
3/6: +59
3/13: +55
3/20: +51
3/27: +56
4/3: +51
4/10: +50
4/17: +55
4/24: +53
5/1: +51
5/8: +48

Full Spectrum (30-days - 30-years)
2026
1/2: +114
1/9: +112
1/16: +108
1/23: +104
1/30: +115
2/6: +113
2/13: +97
2/20: +100
2/27: +90
3/6: +102
3/13: +115
3/20: +123
3/27: +124
4/3: +120
4/10: +124
4/17: +119
4/24: +122
5/1: +126
5/8: +124

Oil/Gas

WTI Crude Oil finished the week in New York at $94.68, down substantially from last Friday’s New York closing price of $102.50.

President Trump's China visit late in the week (May 14) is likely to have some significance in terms of oil and gas pricing. With anticipation for a breakthrough in the Middle East high, there is still a good deal of tension in the region and among larger players. The China visit may trigger a framework peace proposal, but tactics - especially those employed by the usually-intractable Trump - may keep the situation in the same on-and-off kind of flow.

Average price for a gallon of unleaded regular gasoline in the U.S. was $4.45 last week and $4.50 this week. Americans are trying to keep their cool over high gas prices, but a resolution to the war nobody wanted would go a long way to restore confidence. President Trump seems not to care much about suffering consumers. He continues to suggest that gas prices will come down, "like a rock" being his most commonly-used metaphor. He's losing ground, however. Impatient people polled Trump at just below 40% approval on the economy and foreign policy in recent polls.

Prices in key states:

California (leader): $6.14 (+0.04)
Washington: $5.76 (+0.10)
Oklahoma (lowest): $3.92 (+0.07)
Florida: $3.42 (+0.08)
Illinois: $4.96 (+0.03)
Pennsylvania: $4.67 (+0.15)
New York: $4.55 (+0.12)
Maryland: $4.46 (+0.20)
Michigan: $4.71 (-0.16)
Texas: $4.03 (+0.14)
Georgia: $4.03 (+0.20)

On Sunday, May 10th, there are just four (4) states with average prices below $4.00, down from 12 last week, and 44 above the $4 threshold, not including Hawaii ($5.63) and Alaska ($4.26), four above $5 (California, Nevada, Washington, Oregon), and one above $6 (California). The Midwest and Southeast have equalized over the past three weeks as the lowest-priced regions, with prices averaging roughly the same in states like South Dakota, Iowa and Kansas as compared to Tennessee, Georgia and Mississippi.

Bitcoin

This week: $80,800.68
Last week: $78,694.80
2 weeks ago: $77,941.15
6 months ago: $106,146.80
One year ago: $103,161.70
Five years ago: $46,725.23

Crypto is absolute trash, held mostly by whales, governments or ridiculous companies like Strategy (MSTR). It has not yet occurred to most "hodlers" that imaginary currencies are not even as useful as fiat. They live in a dream world.

Precious Metals

Gold:Silver Ratio: 58.68; last week: 61.23

Futures, per COMEX continuous contracts:

Gold price 4/10: $4,771.00
Gold price 4/17: $4,849.40
Gold price 4/24: $4,725.40
Gold price 5/1: $4,625.60
Gold price 5/8: $4,723.70

Silver price 4/10: $76.03
Silver price 4/17: $81.58
Silver price 4/24: $76.19
Silver price 5/1: $75.84
Silver price 5/8: $80.83

SPOT:
(stockcharts.com)
Gold 4/10: $4,751.68
Gold 4/17: $4,833.56
Gold 4/24: $4,709.27
Gold 5/1: $4,612.97
Gold 5/8: $4,714.90

Silver 4/10: $75.95
Silver: 4/17: $80.75
Silver 4/24: $75.63
Silver 5/1: $75.34
Silver 5/8: $80.35

Solid week for both metals, with silver close to a breakout at any close above $80.75 in New York. This Friday's figure of $80.35 has it in range. Silver will continue to out-perform gold short term, though both appear to be headed higher with summer months generally positive for precious metals.

Here are the most recent prices for common one ounce gold and silver items sold on eBay (free shipping included, numismatics excluded):

Item/Price	Low	High	Average	Median
1 oz silver coin:	79.96	99.99	87.99	85.80
1 oz silver bar:	84.00	104.50	91.93	88.98
1 oz gold coin:	4763.35	4961.00	4886.32	4909.00
1 oz gold bar:	4908.35	4971.00	4929.29	4919.83

The Single Ounce Silver Market Price Benchmark (SOSMPB) rose modestly, to $88.67, a gain of $2.44 from the May 3 price of $86.23 per troy ounce.

WEEKEND WRAP

Big gains on the NASDAQ are nothing new. Speculators crowd into tech names with regularity and generally are able to ride stock gains to fresh all-time highs before bailing. With so much experience backing their trades, there is as of yet no trigger for the eventual pullback. Markets have become dominated by heavy institutional flows, insider trades, and political leanings. It's not supposed to be that way, but traders have long ago given up on fundamentals as a price determinant and rely more on flows and momentum to time out trades in various sectors. Precious metals have experienced a paradigm shift recently, correlating with stocks in general and the S&P in particular.

Interesting times. A Chinese curse and a Westerized hope. Not a strategy.

At the Close, Friday, May 8, 2026
Dow: 49,609.16, +12.19 (+0.02%)
NASDAQ: 26,247.08, +440.88 (+1.71%)
S&P 500: 7,398.93, +61.82 (+0.84%)
NYSE Composite: 22,942.15, -69.16 (-0.30%)

For the Week:
Dow: +109.89 (+0.22%)
NASDAQ: +1132.64 (+4.51%)
S&P 500: +168.81 (+2.33%)
NYSE Composite: -99.00 (-0.43%)
Dow Transports: -399.46 (-1.94%)

Disclaimer: Information disseminated on this site should not be construed as investment advice. Downtown Magazine Inc., Money Daily and it's owners, affiliates and/or employees are not investment advisors and do not offer specific investment advice. All investments have risk. You should consult a professional investment advisor or stock broker or use your individual judgement when making investment decisions. By viewing this site, you hold harmless Downtown Magazine Inc., Money Daily, its owners, affiliates and employees against any and all liability. Copyright 2026, Downtown Magazine Inc., all rights reserved.

April Non-Farm Payrolls: +115,000; Middle East Hostilities Escalate; Stocks Seek Another Week of Gains

As if it mattered amid the turmoil in the Middle East and the price of gas in the U.S. and Europe, Wall Street will briefly turn its attention to the regularly-overstated and ultimately revised lower Non-farm Payroll report issued by the Bureau of Labor Statistics for April.

As such, at 8:30 am ET, the BLS snet forth, in part, the news:

Total nonfarm payroll employment edged up by 115,000 in April, and the unemployment rate was unchanged at 4.3 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, transportation and warehousing, and retail trade. Federal government employment continued to decline.

and...

The change in total nonfarm payroll employment for February was revised down by 23,000, from -133,000 to -156,000, and the change for March was revised up by 7,000, from +178,000 to +185,000. With these revisions, employment in February and March combined is 16,000 lower than previously reported.

Just dandy.

Stock futures, which were already geared up in a positive ramp, added more upside. Just before 9:00 am ET, Dow futures were ahead by 240 points, NASDAQ futures gained 245, and S&P futures added 45 points.

Likewise, precious metals were bid, with gold as high as $4,723.00 and silver arcing above $81 per ounce.

Meanwhile, the fog of war remained cloudy and thick with rhetoric as hostilities between the U.S. and Iran escalated to a near boiling point. Iran seized an oil tanker in the Gulf of Oman. Three U.S. destroyers transited out of the Strait of Hormuz under heavy fire from Iranian defenses. According to President Trump, none of the U.S. ships suffered damage, retaliating against Iranian launch sites in the region.

Iran has charged the U.S. with violating the ceasefire; the U.S. denies Iran's claims. No matter the case, both sides have been actively deploying various weapons on the ground and in the waters off Iran's coast. The situation has become intensified with jets, drones, missiles, and ordnance producing explosions and damage, especially in the UAE, which has joined forces with Israel and the United States.

If there's a ceasefire at all, it appears to be under stress as both sides continue efforts to open or close down shipping lanes and employ defensive and offensive measures on limited targets. Israeli forces remain bogged down in southern Lebanon and have been eerily quiet of late. The situation remains, to say the least, fluid.

Oil prices have risen. WTI crude oil futures are trading in a range of $95-97.

Through Thursday's close, the Dow is up 97 points for the week, NASDAQ is 691, and the S&P is ahead by 107.

Friday's session looks to be as volatile as those preceding it this week and stocks could go either way, depending on how Middle East developments are perceived by trades and speculators. Considering how stocks have been trading since the star of the Iran war, now more than two months deep, the choice to stay long or short over the weekend is likely to be a major consideration.

At the Close, Thursday, May 7, 2026:
Dow: 49,596.97, -313.62 (-0.63%)
NASDAQ: 25,806.20, -32.75 (-0.13%)
S&P 500: 7,337.11, -28.01 (-0.38%)
NYSE Composite: 23,011.31, -273.08 (-1.17%)

Sick Medical System: Nearly Half of Americans Have High Blood Pressure or Diabetes or Both, Due to Roving Benchmarks; Oil Lower, Gold, Silver, Stocks are Up

Editor's Note: I recently had interaction with the medical community, something I've managed to avoid most of my 72 years on planet earth. While this time it turned out that I did need some medical attention, the condition is already being resolved, thanks to a realistic, savvy doctor at my clinic and no thanks to doctors at the local hospital. My interaction opened my eyes about the U.S. medical complex, Big Pharma firms, and hospital practices that routinely defraud patients, insurance providers and the government. I'll likely be sounding off about American medicine practices more often in this space. -- Fearless Rick

How is this even possible?

Nearly half of U.S. adults today have high blood pressure (48.1%, 119.9 million). This is defined as a systolic blood pressure greater than 130 mm Hg or a diastolic blood pressure greater than 80 mm Hg or are taking medication for high blood pressure.

Either half of the U.S. adult population is sick or the medical community has changed their methodology and benchmarks. It's the latter, and there's proof. Get together with a few friends. Look around. Which half of your group suffers from hypertension. According to rational analysis, in a group of 10 adults aged 25-65, less than three of them would be categorized as "ill."

High blood pressure, or, more accurately, stage 2 hypertension is commonly defined as a life-threatening condition. If you're one of those people who believe what doctors funded by Phizer, Merck, Bristol Myers Squibb, Ely Lilly or other pharmaceutical producers tell you, you're almost certain to become sicker and poorer taking their medicines.

Historical Blood Pressure Standards

According to a co-pilot AI search, During the 1960s, physicians often tolerated higher blood pressure readings than today. A reading that modern medicine classifies as Stage 2 hypertension, such as 160/100 mm Hg, was commonly accepted, especially in older adults, and treatment was usually reserved for more severe cases. Mild elevations, like 140/90 mmHg, were often labeled “high normal” or considered a natural consequence of aging, reflecting the belief that moderately elevated pressure could be beneficial for maintaining adequate blood flow.

Source: scienceinsights.org

A widely used clinical rule suggested that systolic pressure could be estimated as “100 plus age”, meaning a 60-year-old with a systolic pressure of 160 mmHg was not automatically treated. This approach contributed to the perception of “benign essential hypertension,” where moderately high blood pressure was thought to be compensatory rather than harmful.

(Editors Note: On Tuesday, my blood pressure was measured at 134/78. I'm 72, so the "age+100" rule suggests I'd be healthy at 172 over whatever. Some quacks doctors are telling me I'm diabetic because 130/80 is some kind of benchmark (It was lowered from 140/80 recently). They are, as my grandfather and father might have opined if they were alive today, FOS. My cousin Joyce calls doctors "professional guessers." BTW, I smoke, drink, and chase dangerous women. -- FR)

Here in 2026, stage 1 hypertension is defined as a blood pressure consistently between 130–139 mm Hg systolic or 80–89 mm Hg diastolic and is highly manageable with lifestyle changes and, in some cases, medication.

Stage 2 hypertension occurs when systolic blood pressure is 140 mmHg or higher, or diastolic pressure is 90 mmHg or higher, with only one of these numbers needing to be elevated to qualify (e.g., 145/82 mmHg counts as stage 2).

The medical community - famous for the "safe and effective" COVID vaccine which killed and injured millions - like all other government-big business-related entities, push a narrative designed to put as many people as possible on Big Pharma drugs when they actually don't need them. The same applies, in spades, for diabetes, the latest boogeyman disease that seldom shows symptoms until doctors get ahold of your blood and perform their voodoo tests.

If quality of life is important to you, avoid doctors and hospitals, eat a healthy diet, get some exercise and be your own doctor. Your body will tell when you're sick better than nay tests or doctors ever will.

The CDC has the gall to publish things like this:

Total diabetes: 40.1 million Estimated number of people with diagnosed or undiagnosed diabetes in the United States, 2023

12.0%: Estimated percentage of the U.S. population with diabetes

Diagnosed diabetes: 29.1 million Estimated number of people with diagnosed diabetes in the United States, including 28.8 million adults aged ≥18 years

Undiagnosed diabetes: 27.6% Estimated percentage of adults aged ≥18 years with diabetes who are undiagnosed, representing 11.0 million people

Prediabetes: 115.2 million Estimated number of U.S. adults aged ≥18 years with prediabetes

See the problem here? It's in that Undiagnosed diabetes reference of 27.6%. If 11.0 million people are 27.6% of the population over 18, that means the total adult population is 39.86 million, which is obviously wrong and makes a laughingstock of the assertion that 115.2 million (out of 39.86 million!) have Pre-diabetes, whatever that is. One would assume these are people that Big Pharma would like to be fully diabetic and eligible to buy their drugs.

Or, maybe the "total diabetes of 40.1 million, which is referenced as 12% of the U.S. population, is correct? That appears to be closer to the truth, about 334 million. adding it all up, 155.3 million, about 46.5% of all U.S. population falls into one of these categories.

With numbers as skewed and obviously incorrect as these, how can te CDC have any credibility at all? Like hypertension, diabetes is arcing toward 50% of the population. In a few years, it will be 60%, then higher, until almost everybody is on some kind of medication.

It's kind of insane. The U.S. medical system is broken. Most doctors and nurses with a conscience will tell you so.

The preceding monologue does not constitute medical advice. Everybody is different. When modern medicine practitioners recognize that fact of life, health care in the U.S. can begin to be reformed.

Getting on to stocks and money...

The Shiller PE ratio (CAPE) stands at 41.83, closing fast on the all-time record high of 44.19 (December 1999). Beyond bubble territory. There's almost no way to accurately describe the level of price/value dislocation.

Earnings reports continue to roll out at a slowed pace.

Walt Disney (DIS) reported Wednesday morning, prior to the open. Strong results for the first quarter of 2026 sent the stock soaring from 100.51 to close the session at 108.03, a gain of more than seven percent. The massive gains seen in many stocks upon earnings reports or news flow points up the gamey nature of U.S. markets. Just because a company has a solid quarter or launches some exciting, fresh venture, doesn't automatically make it more valuable, though in the "take no prisoners" current environment, with everybody chasing momentum and yield, these kinds of gains have become normalized. Stock buyback programs and heavy insider buying (and selling) also emulate a market that is highly compressed and triggered by headlines.

After Wednesday's close Applovin (APP), Snap Inc. (SNAP), Beyond Meat (BYND), Dutch Bros. (BROS), and Coinbase (COIN) reported. Of those, Snap Inc. saw the biggest decline, losing more than eight percent in pre-market trading. The stock is close to an all-time low around $6 per share, down from a high of $83 in 2021.

Beyond Meat (BYND) is now a $1 stock and will soon be in danger of delisting, losing 11% pre-market. It was briefly a $150 stock back in 2021. Apparently, Americans prefer real beef, even if it costs them $20 or $30 a pound.

Coffee chain Dutch Bros (BROS) is headed down more than six percent even after beating Street estimates.

Thursday, before the open, McDonald's (MCD) reported, and the outlook is not good. Despite an earnings beat, the stock is wallowing around one percent to the downside.

The Middle East situation continues to evolve in myriad ways. Iran continues to hold out for better terms regarding an end to the conflict. Meanwhile, the duopoly of Iran's guarding of the Strait of Hormuz and the U.S. naval blockade in the Indian Ocean continue to keep oil flows at a trickle. Traders, however, are confident a solution is near, sending WTI crude down more than five percent to $90 a barrel.

Maverick entrepreneur and founder of CNN, Ted Turner, has passed away at the age of 87.

Stocks look to be headed even higher Thursday as futures are up across the board. Silver is up sharply, at $81.17 an ounce. Spot gold is at $4,738.90.

At the Close, Wednesday, May 6, 2026:
Dow: 49,910.59, +612.34 (+1.24%)
NASDAQ: 25,838.94, +512.82 (+2.02%)
S&P 500: 7,365.12, +105.90 (+1.46%)
NYSE Composite: 23,284.39, +275.72 (+1.20%)

Truth is Becoming Less Identifiable and Discernible as U.S. Narrative Focuses on Peace Negotiations with Iran; Stocks, Gold, Silver Rally; Oil Drops

Just a day after announcing "Project Freedom", President Trump announced that the operation designed to escort commercial ships safely through the Strait of Hormuz was abruptly ended.

The consensus opinion of military experts outside the Beltway Bullhorn media complex contends that the two ships that actually did transit the Strait successfully were aligned with the U.S. military, part of a program that allowed for military assets to be shipped on commercial ships. The revealing information was quickly scrubbed from most outlets reporting the operation.

CENTCOM issued no official confirmation, only a briefly worded statement.

According to CBS News:

The USS Truxtun and USS Mason, supported by Apache helicopters and other aircraft, faced a series of coordinated threats during the passage, the defense officials said. Iran launched small boats, missiles and drones against them in what officials described as a sustained barrage.

Despite the intensity of the attacks, neither U.S. vessel was struck.

Whether or not the events reported actually happened remains a matter of some speculation.

In any case, the story being told by the White House and military officials, similar to the "rescue" operation in Iran a few weeks ago, is what matters to the ongoing struggle in the Middle East, and to Wall Street and its headline-gorging algorithms.

Wednesday morning, stocks are being lifted by accounts that the U.S. and Iran are close to a deal, though Iranian sources have denied any such condition, saying, in part, "The negotiations are still facing the intransigent American approach and excessive demands."

Another Wednesday morning truth by President Trump offered this:

Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective Blockade will allow the Hormuz Strait to be OPEN TO ALL, including Iran. If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before. Thank you for your attention to this matter! President DONALD J. TRUMP

With an assortment of diverse opinions coming from the likes of Secretary of State Marco Rubio and War Secretary Pete Hegseth, the truth may be just a little harder to discern than taking media reports (without video) at face value.

All this uncertainty leads to the ultimate goal, as Morpheus explains the matrix to Neo:

Stocks, in response to government propaganda, are set to soar Wednesday. The price of WTI crude oil on the COMEX has fallen below $100/barrel, down to a low of $88.66 earlier this morning. Gold ($4,684) and silver ($76.70) are also rallying sharply. Stock futures ar substantially higher.

At the Close, Tuesday, May 5, 2025:
Dow: 49,298.25, +356.35 (+0.73%)
NASDAQ: 25,326.13, +258.32 (+1.03%)
S&P 500: 7,259.22, +58.47 (+0.81%)
NYSE Composite: 23,008.67, +115.21 (+0.50%)

Stocks Open Week on Downside, Look to Rebound Tuesday as "Project Freedom" Seeks to Free Up Strait of Hormuz to Commercial Traffic

Stocks opened the trading week with a bit of a pullback, especially on the Dow Industrials, which was down more than one percent at the end of the day. That drop isn't likely to matter much, as Tuesday's open approaches with tensions escalating in the Middle East.

According to CENTCOM, two U.S. Navy destroyers have transited the Strait of Hormuz, allegedly suppressing a sustained assault by Iranian fast boats, missiles, and drones in the first true test of "Project Freedom", by which the U.S. plans to escort commercial ships through the strait into open, friendlier waters.

Initial reports being positive, stock futures are responding to the headlines. Dow futures are up 220 points, NASDAQ futures are ahead by 213, and S&P futures show a positive gain of 35 points a half hour before the opening bell.

On Monday, yield on the 30-year bond crept up to 5.05%, a danger signal to U.S. interests. Rising yields on the longest-duration treasuries is something the Trump administration would rather not contend with, as higher yields suggest insecurity in lending the to the U.S., already more than $38 trillion in debt.

Tuesday morning, yields on the 30-year are declining, close to an even 5.00%, but the danger still exists. Ten-year notes are yielding roughly 4.42%, though they came closer to the Mendoza line at 4.50% on Monday.

As far as "Project Freedom" is concerned, so far, so good, as CBS news is confirming the transit of Hormuz by the two Navy ships. Whether on not CBS reporting constitutes actual confirmation is questionable, as the network is usually little more than a stenographer for the federal government and military.

On the earnings front, reporting first quarter results Tuesday before the open:
Pfizer (PFE) - earnings beat, reaffirms guidance, stock up less than 1% in pre-market
PayPal (PYPL) - reports higher earnings and revenue, stock slides 9.5%
Marathon (MPC) - big beat on revenue, earnings, shares marginally higher
Shopify (SHOP) - revenue gains, profits slim, shares down 7%

Gold and silver are ripping higher as the U.S. cash open approaches, though both are well off last year's all-time highs. Bitcoin has streaked beyond $81,000, also well below 2025 highs of $124,000.

The oil must flow, WTI crude down $3 to $103 and change.

At the Close, Monday, May 4, 2026:
Dow: 48,941.90, -557.37 (-1.13%)
NASDAQ: 25,067.80, -46.64 (-0.19%)
S&P 500: 7,200.75, -29.37 (-0.41%)
NYSE Composite: 22,893.46, -147.68 (-0.64%)