Welcome to Markets Desk, your midday read on what's moving money.
The dollar climbed to a six-week high Thursday as Iran nuclear deal uncertainty pushed traders into safe-haven positioning. The dollar index edged up fractionally, with Iran's Supreme Leader signaling that enriched uranium stays in-country, casting real doubt on any near-term Strait of Hormuz resolution.
Shifting to equities, first-quarter earnings are doing the heavy lifting in this rally, providing the kind of fundamental bedrock that keeps bulls confident. Revenue beats across sectors have given investors reason to look past macro noise, and that underlying support is what's pushing major indices toward record territory.
Meanwhile, the SpaceX IPO narrative is gaining complexity. The pending offering, reportedly targeting June, is raising flags among Tesla investors who worry Elon Musk's attention is structurally shifting toward his space venture. With SpaceX's own IPO filing acknowledging its strategy is heavily dependent on Starship, and Cloudflare's CEO simultaneously declaring AI has made entire worker categories obsolete, the broader question of where capital and talent flow in this new era is becoming harder to ignore.
That's the tape. Markets Desk, signing off the floor.
