US Says Iran Ceasefire Still In Place After Hormuz Clash | Balance of Power 05/05/2026
Speakers
Summary
The episode covers the U.S.-Iran ceasefire, the shift to Project Freedom in the Strait of Hormuz, and its impact on oil prices. It also discusses chip stock rallies after AMD and SMCI earnings, crypto legislation progress, humanitarian crises, and political implications for the 2026 midterms. Steven Mnuchin advocates for a long-term bullish stance on the S&P 500.
- U.S. officials emphasize the Iran ceasefire remains in place, moving from Operation Epic Fury to Project Freedom.
- Oil prices fell on the calming tone, but Strait of Hormuz blockages continue to strain global supply.
- AMD and SMCI reported better-than-expected earnings, fueling a rally in chip stocks and AI infrastructure optimism.
- Congressman Bryan Steil discussed Fed policy hopes and crypto regulatory clarity, but offered no specific trade.
- Senator Kirsten Gillibrand expressed optimism for the CLARITY Act and criticized the Iran war's cost to consumers.
- Steven Mnuchin voiced support for semiannual SEC reporting and recommended buying the S&P 500 on a 10-year horizon.
- Political panel debated Democratic chances in Senate races driven by voter frustration over high gas prices.
- Humanitarian concerns in Gaza and the region remain elevated, with World Central Kitchen scaling operations.
Trade Ideas
S&P 500 best long-term investment
Mnuchin believes the S&P 500 is the best long-term investment because the U.S. is the primary destination for global capital flows, Europe's economy is underperforming, and the AI transition is still in early innings, driving massive capex and growth. He recommends a 10-year horizon.
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Speakers: Steven Mnuchin · Tickers: SPY