Earnings Driving Rally as Stocks Shrug Off Geopolitics

• The S&P 500 and Nasdaq-100 are maintaining a bullish technical structure with higher highs and higher lows.
• Geopolitical risks in the Middle East are driving crude oil prices higher, but equity markets are prioritizing strong earnings, especially from the technology sector.
• GameStop has submitted an unsolicited bid to acquire eBay at $125 per share, comprising 50% cash and 50% GameStop common stock, with TD Bank providing debt financing.

The market is currently exhibiting a bullish technical structure with S&P 500 and Nasdaq-100 near all-time highs. Despite rising oil prices due to US-Iran tensions, a stronger dollar, and higher yields, equity markets are largely discounting geopolitical risks and focusing on strong earnings, particularly in the tech sector. A significant takeover bid for eBay by GameStop is also a key market mover.