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Oil prices flipped negative this afternoon after a U.S. official confirmed Israel and Hezbollah have agreed to a ceasefire, effective four p.m. local time Friday. The geopolitical risk premium that had been propping up crude evaporated quickly, with traders unwinding positions almost immediately on the news.
Turning to semiconductors, chip stocks may be printing record highs, but the technical picture is flashing a warning. The SOXX's relative strength index has been sliding further below overbought territory even as prices climb — a bearish divergence that historically has preceded meaningful pullbacks. Bulls should be watching that gap closely.
And in trucking, Knight-Swift shares took a hard hit this week after earnings disappointed. The broader freight cycle remains depressed, with a recovery now pushed toward two thousand twenty six at the earliest. Rate pressure and soft volumes continue to squeeze carriers, and the market made clear it has little patience for guidance that confirms the pain isn't over yet.
That's the tape. Markets Desk, signing off the floor.
