Markets Rally as Oil & War Cross-Currents Clash

Can High Bond Yields and High Stock Prices Co-Exist?

Bob Doll reviews a week of rising stocks and sectors led by utilities, healthcare, and real estate, while rising bond yields and the Iran conflict create fresh market risks. The episode examines whether high bond yields can coexist with high stock prices, highlights the impact of energy shocks and AI-driven earnings, and concludes that solid corporate profits and accommodative policy support markets — but a prolonged Strait of Hormuz disruption or further yield increases could trigger a correction. For a copy of this week's Doll's Deliberations click on the following link May 26 [https://www.crossmarkglobal.com/category/dolls-deliberations/] or go to www.crossmarkglobal.com [http://www.crossmarkglobal.com] for additional insight and investment solutions.

Both Stocks and Oil Stay Resilient — But Time's Running Out

Markets showed narrow gains with the S&P 500 trading near all-time highs while other averages lagged. Energy led sector performance as oil prices rose on continued Strait of Hormuz disruption, but overall economic data and strong corporate earnings have so far supported risk assets. Key risks include a prolonged closure of the strait that could drain global oil reserves and push inflation higher, prompting a rapid market re-pricing. Investors should monitor developments closely and be prepared to de-risk if the situation does not resolve soon. For a copy of this week's Doll's Deliberations click on the following link May 18 [https://www.crossmarkglobal.com/category/dolls-deliberations/] or go to www.crossmarkglobal.com [http://www.crossmarkglobal.com] for additional insight and investment solutions.

Markets Rally as Oil & War Cross-Currents Clash

Bob Doll reviews the May 11, 2026 market update: a sixth straight week of all-time highs for the S&P 500, strong earnings—especially in tech and AI—and a 16% six-week gain. He explains how oil price volatility and Middle East tensions, centered on the Strait of Hormuz, are creating cross-currents that could boost inflation and bond yields, while central banks and investors weigh the trade-off between pro-growth positioning and tactical risk reduction. The episode concludes with Doll's outlook: the global expansion is likely to persist if the strait reopens, but investors should watch oil, inflation, and geopolitical developments closely. For a copy of this week's Doll's Deliberations click on the following link May 11 [https://www.crossmarkglobal.com/category/dolls-deliberations/] or go to www.crossmarkglobal.com [http://www.crossmarkglobal.com] for additional insight and investment solutions.

Fingers Crossed/Cautiously Optimistic

Bob Doll reviews last week’s market rally—S&P and Nasdaq posted a fifth straight weekly gain and reached new highs—driven by strong earnings and resilient economic data despite Middle East tensions that have tightened oil and commodity supplies. He offers a cautiously optimistic outlook: monetary and fiscal support favor equities over bonds, but elevated valuations, potential supply shocks, and geopolitical risks point to moderate returns with above‑average volatility in the months ahead. For a copy of this week's Doll's Deliberations click on the following link May 4 [https://www.crossmarkglobal.com/category/dolls-deliberations/] or go to www.crossmarkglobal.com [http://www.crossmarkglobal.com] for additional insight and investment solutions.

Markets Continue to Assume War Will End and Oil Will Fall

Bob Doll reviews a market rally driven by strong Q1 earnings and tech gains, with energy leading as Brent nears $100/barrel. Equity indexes hit record closes amid optimism that the Strait of Hormuz will reopen and oil prices will ease. He warns that continued geopolitical uncertainty could keep oil and input costs elevated, making inflation stickier and posing a tail risk to corporate profits. Crossmark remains risk-on but watchful for prolonged supply shocks and upcoming Fed guidance. For a copy of this week Doll's Deliberations click on the following link April 27 [https://www.crossmarkglobal.com/category/dolls-deliberations/] or go to www.crosssmarkglobal.com [http://www.crosssmarkglobal] for additional insight and investment solutions.