US Navy Secretary Fired After Infighting at Pentagon: Sources | The Pulse 4/23
Speakers
Hugh Gimber
— Global Market Strategist, JPMorgan Asset Management
Neil Campling
— Tech/TMT Analyst
Summary
The Pulse covers the escalating US-Iran standoff over the Strait of Hormuz, Pentagon leadership shakeup, and market implications. Guests discuss inflation, growth slowdown, tech capex, energy disruption, and investment opportunities. Stirling Larkin sees a bullish case for the US dollar due to energy exports.
- US and Iran remain locked in a standoff over the Strait of Hormuz, with attacks on commercial vessels continuing.
- US Navy Secretary John Phelan was fired after clashes with Pentagon leaders.
- JPMorgan's Hugh Gimber expects inflation to rise and growth to slow, but stagflation is not imminent.
- Tesla plans major capex pivot to AI and robotics, but market reactions hinge on earnings beats and capex discipline.
- TSMC delays use of ASML's latest machines to save money, raising questions about ASML's monopoly.
- Boeing reports a strong quarter with improving cash flow, nearing positive cash generation.
- EU leaders meet in Cyprus to address energy crisis from Iran conflict and approve a €90 billion loan to Ukraine.
- Stirling Larkin of Foxtail Pine is bullish on equities and the US dollar, citing liquidity and US energy export advantage.
Trade Ideas
U.S. dollar bullish on energy exports
The U.S. dollar will benefit from being a massive supplier of energy to Europe and Asia for the next 2-3 years, even amid geopolitical tensions, as Europe and Asia still need to turn to LNG, gas, and oil from the U.S.
Up Next
This Bloomberg Markets video, published April 23, 2026, features Stirling Larkin discussing UUP. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Stirling Larkin · Tickers: UUP