<\/p>\n
Veteran fund manager and best-selling author Louis Navellier provides regular market analysis on TheStreet.com. Follow him to read his latest thoughts here. <\/em><\/p>\n Hopes for a resolution in the Iran conflict continue to improve, as reflected in falling crude oil prices<\/strong>. West Texas Intermediate, or WTI, for delivery in July has traded below $88\/bbl today, down 12.6% in a week. <\/p>\n This drop happens at a critical time as the last of the shipments through the Strait of Hormuz, before it was shut down, have been delivered. Interest rates have fallen in sympathy due to the reduced inflation risk, with the US 2-year Treasury Note yield at 3.85%, down from the recent high of 3.98%, and the 10-year Treasury Note yield is at 4.34%, down from 4.46%.<\/p>\n I believe the stock market has been pricing in a resolution to the energy crisis, leaping to new highs, but remains vulnerable if fighting breaks out again and the Strait remains closed<\/strong>.\u00a0<\/p>\n The AI theme remains white hot, reflected clearly in the semiconductor trade<\/strong>, up 36.7% in a month, but also by the recovery in the Magnificent 7, which hit a new all-time high today, up 18.8% in a month. <\/p>\n It’s of note that Mag 7 stalwart Apple (AAPL) has also hit a new all-time high today, in that the company is not funding major data centers but rather is seen as the benefactor of delivering AI to consumers via their iPhones.<\/p>\n Related: Michael Burry drops shocking verdict on software stocks<\/strong><\/p>\n We’re also seeing a rethinking of the role of major software companies<\/strong>, which have been hammered this year as being vulnerable to having AI solutions steal their clients. <\/p>\n The group is down 13.5% YTD, but has surged back 13.6% in the last month as it’s now being seen that corporations are more likely to buy AI solutions than build their own, and established software relationships will end up being the winning vendors, though their business models will have to evolve<\/strong>.\u00a0<\/p>\n We\u2019re seeing a rebound in precious metals with gold prices up 1.6% to $4,770\/oz, still down 1.5% for the trailing month and far from its $5,625 January high. Silver is even stronger, up 6.4% to $82.22\/oz, up 7% in a month, but also far from its $121.78 January high. <\/p>\n Copper is up modestly<\/strong> on the day, up 9.3% in a month, and right on top of its all-time high at $6.22\/oz, reflecting strong global growth.\u00a0<\/strong><\/p>\n We\u2019re also seeing positive data for the economy<\/strong>. We had stable labor numbers with jobless claims below forecasts and trending lower. <\/p>\n First-quarter nonfarm productivity is higher than forecast, though it was lower for the 3rd quarter in a row.\u00a0Unit labor costs fell as well. Construction spending was up sharply in March after 2 months of falling, though this is a volatile number.<\/p>\n The trend remains positive but quite narrow. Investors underweight in tech are still up nicely in the trailing month, but trail materially<\/strong> this year.\u00a0\u00a0<\/p>\n Veteran fund manager and best-selling author Louis Navellier provides regular market analysis on TheStreet.com. Follow him to read his latest thoughts here. <\/em><\/p>\n Related: Gas price risks threaten drivers as Strait of Hormuz debacle rages<\/strong><\/p>\n #Louis #Navellier #Market #Analysis #rising #hope #falling #prices #rethinking #software<\/p>\n","protected":false},"excerpt":{"rendered":" Veteran fund manager and best-selling author Louis Navellier provides regular market analysis on TheStreet.com. Follow him to read his latest thoughts here. Hopes for a resolution in the Iran conflict… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[246],"tags":[2519,3730,3729,3727,33,3728,614,3731,165,455],"class_list":["post-2069","post","type-post","status-publish","format-standard","hentry","category-popular","tag-analysis","tag-falling","tag-hope","tag-louis","tag-market","tag-navellier","tag-prices","tag-rethinking","tag-rising","tag-software"],"_links":{"self":[{"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=\/wp\/v2\/posts\/2069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2069"}],"version-history":[{"count":0,"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=\/wp\/v2\/posts\/2069\/revisions"}],"wp:attachment":[{"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gw.adampg777.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}AI trade remains ‘white hot,’ and Mag 7 is back in vogue<\/h2>\n
Gold, economy back to winning ways<\/h2>\n