Market Storylines: Crypto Weakness, AI Momentum + Iran Headlines Shift

Michael Reinking, NYSE Senior Market Strategist, recaps a dynamic week as tech strength and AI momentum continued to lead markets higher. Iran headlines remained volatile, with shifting ceasefire expectations driving swings in oil and Treasury yields. Economic data broadly surprised to the upside, though mixed labor signals kept attention on the upcoming jobs report. Crypto faced renewed pressure, with steep declines and ETF outflows contrasting sharply with strong equity performance. Focus now shifts to labor data, inflation, and evolving geopolitical risks as investors assess sustainability of the rally.