US stocks finished Monday sharply higher after a powerful intraday reversal, as investors looked past President Trump’s surprise order to blockade the Strait of Hormuz and rotated aggressively back into risk.
Index performance (closing levels)
- Dow Jones Industrial Average (48,218.25, +.63%): Rebounded from early steep losses to close significantly higher, finishing the day up near the low‑single‑digit percentage range as industrials and financials helped drive a forceful afternoon squeeze.
- S&P 500 (6,886.24, +1.02%): Ripped from red to green to end approx. 1% higher, with a solid multi‑percent advance that underscored broad‑based dip‑buying and renewed confidence in large‑cap US equities despite the geopolitical shock.
- Nasdaq Composite (23,183.74, +1.23%): Led the move, closing the session with a strong gain as mega‑cap tech and software names powered a robust risk‑on surge into the bell, reclaiming leadership after the morning’s geopolitically driven selloff.
- Russell 2000: The small‑cap gauge also finished 1.52% higher to close at 2,670.49, participating in the reversal as risk appetite broadened beyond mega‑caps.
Macro and geopolitics
- Hormuz blockade: The day began with risk assets under pressure after Trump ordered a US naval blockade of the Strait of Hormuz following failed talks with Iran, briefly raising fears of a major supply‑side oil shock and a wider regional conflict.
- Market interpretation: As the session progressed, traders increasingly framed the move as a contained escalation rather than an immediate path to war, betting that diplomacy and economic self‑interest would eventually limit disruption and that the underlying US growth story remained intact.
Commodities and rates
- Oil ($97.99/bbl, +1.47%): Crude spiked on the blockade headlines as markets priced in potential shipping disruptions, but later backed off its intraday extremes as equities recovered and traders reassessed worst‑case scenarios.
- Gold (4,764.10, -.49%): After benefiting from a safety bid earlier in the episode, gold surrendered part of that premium as the equity rally and improved risk sentiment reduced the urgency for defensive positioning.
- Yields: The 10-yr Treasury yield drifted lower into the close at 4.29%.
Sector and style moves
- Tech / growth: Tech was the engine of the reversal, with mega‑cap platforms, chips, and software attracting heavy inflows as investors leaned back into secular growth and AI‑linked stories.
- Cyclicals and financials: Financials, industrials, and other cyclicals joined the afternoon rally, helped by higher yields and the view that the US economy can absorb a higher‑oil backdrop without immediately sliding toward recession.
- Energy: Energy stocks rallied alongside crude but ultimately lagged the most explosive parts of tech by the close, as traders weighed windfall‑profit potential against headline‑driven volatility and policy risk.
VP Watchlist Updates
Below is an update‑style snapshot on the VP Watchlist names for the week, focused on recent catalysts, positioning, and narrative rather than precise price moves.
Broadcom (AVGO, $379.75, +2.21%)
Broadcom’s latest AI alliance with Google parent Alphabet Inc. (GOOGL, GOOG) and Anthropic is less a routine chip deal and more a declaration that the quiet power behind the cloud plans to stay loud for the next decade. The three-way pact locks in custom AI silicon and multi‑gigawatt compute capacity that could reshape who really controls the tollbooths on the generative AI superhighway.
Eupraxia Pharmaceuticals (EPRX, $7.18, +4.86%)
Eupraxia Pharmaceuticals Inc. (“Eupraxia” or the “Company”), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, co-hosted a Tribe Public www.TribePublic.com, CEO Presentation & Q&A Webinar event, Wednesday, April 1 titled “Turning EOE Into a Once-a-Year Appointment.” The event featured James A. Helliwell, M.D., Co‑founder and CEO of Eupraxia Pharmaceuticals (NASDAQ: EPRX), who discusses the company’s precision drug‑delivery platform, its approach to Eosinophilic Esophagitis (EoE), and broader pipeline priorities, followed by a focused 5–10 minute Q&A. You may watch it now at this Youtube link.
Eupraxia announced (March 17) positive symptom data from patients in the two highest dose cohorts from its ongoing Phase 1b/2a part of the RESOLVE trial evaluating EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). “We are very pleased to see such a meaningful symptom response at 24 weeks in the highest dose of the Phase 1b/2a portion of the RESOLVE study,” said Dr. James A. Helliwell, Chief Executive Officer of Eupraxia. “We believe this type of response based on a single administration procedure would represent a compellingly different option for EoE patients. Importantly, the response that we are observing across cohorts 4-9 has increased as patients progress through the study through to week 24. We believe this demonstrates the importance of stable, continuous long-term local steroids in tamping down signs of inflammation quickly and acting on fibrosis in the longer term. Also, as previously reported, we continue to be encouraged by the safety profile that we have observed with EP-104GI. Currently, with 31 patients dosed in the Phase 1b/2a study, and over 220 months of follow up, there have been no reported serious adverse events.”
Modular Medical (MODD, $4.49)
- Modular Medical’s latest regulatory milestone upgrades the narrative: the company has now secured FDA 510(k) clearance for its Pivot tubeless insulin patch pump, moving from “launch‑ready” to “launch‑approved” in the heart of the fast‑growing diabesity market. The FDA has cleared Modular Medical’s Pivot patch pump as a tubeless, removable insulin delivery system, formally validating the device’s design and performance for commercial use in U.S. adults living with diabetes. The clearance converts what had been a Q1 2026 launch “subject to FDA response” into a tangible commercial pathway, giving the company permission to sell into an insulin pump market that has been estimated at roughly 8 billion dollars globally. Pivot is engineered as a simplified, two‑part patch pump with a 3‑milliliter removable reservoir, no need for battery recharging, and the ability to bolus without a dedicated controller, aiming squarely at patients who have stayed on multiple daily injections because traditional pumps felt too complex, cumbersome, or costly. By clearing Pivot, the FDA is effectively endorsing Modular Medical’s attempt to make advanced insulin delivery feel less like adopting a gadget and more like upgrading a daily habit.
The InterGroup Corporation (INTG, $35.10, +2.33%)
- InterGroup Corporation delivered (Feb. 17) a notably stronger quarter, highlighted by a 20% jump in total revenue to $17.3 million and a 27% surge in hotel revenue as renovated rooms returned to service and travel demand improved. The company swung from a prior-year net loss to $1.0 million in net income, with operating income more than doubling to $2.0 million, underscoring better cost control and improved operating efficiency. Management further enhanced liquidity and sharpened strategic focus by selling a non-core 12‑unit Los Angeles multifamily property, generating a meaningful gain and additional working capital while maintaining stable performance across its real estate portfolio.
Volato Group, Inc. (SOAR) & M2i Global, Inc. (MTWO, +15.71%)
- Volato Group, Inc. (NYSE American: SOAR) (the “Company” or “Volato”) and M2i Global, Inc. (OTCQB: MTWO) (“M2i Global”) today (April 13) announced that the U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form S-4 (File No. 333-292132) relating to Volato’s proposed merger with M2i Global, formally advancing the transaction into its shareholder approval and closing phases. Volato is proceeding with distribution of the definitive proxy statement/prospectus and a special meeting of shareholders is expected to be held on May 7, 2026. Shareholders of record as of April 17, 2026 will be entitled to vote on the proposed transaction.
- flyExclusive (NYSE American: FLYX), the vertically integrated private aviation company, announced (March 25) two milestones in its proprietary technology development: the filing of a utility patent application for a novel aircraft schedule optimization architecture, and the availability of Contrails, its Flight Management System, to other Part 135 operators beginning in Q2 2026. Both announcements coincide with the company’s presence at the NBAA Schedulers & Dispatchers Conference 2026 in Cleveland. “We have spent years building flyExclusive into one of the most operationally capable private aviation companies in the country. Contrails is how we make that expertise available to the broader industry—and the intellectual property behind it reflects the depth of investment we have made in solving problems that matter to every serious operator. We believe the right technology, built by people who actually run flights, changes what is possible in this industry. Today we are unable to source lift for nearly 300 trip requests per day. We believe Contrails will allow us to address that demand far more efficiently—both within our own operation and through coordination with other operators—and that represents a material revenue opportunity for flyExclusive and for all participating operators.”
- Volato Group, Inc. announced (March 10) that it has entered into an amendment to its Aircraft Management Services Agreement with flyExclusive, Inc. (“FLYX”) providing for the sale of certain legacy intellectual property assets. The agreement provides for consideration valued at approximately $1.3 million, payable in FLYX Class A common stock, subject to customary conditions. The assets relate to legacy intellectual property developed during earlier stages of the Company’s technology initiatives and are not part of Volato’s current operating platforms. Volato continues to evaluate opportunities to streamline its asset base and focus resources on strategic priorities, including the continued development of its core software platforms and the pending business combination with M2i Global, Inc.
- On Feb. 4, M2i Global,Inc.along with Volato Group, Inc. announced that Titanium X has initiated its first shipment of titanium ore from Western Australia to the U.S. under its collaboration agreement.
NVIDIA (NVDA, $189.31, +.30%) (NOK, $10.37, +9.62%)
- On April 13, Vistance Networks (NASDAQ: VISN, $19.30, +1.74%), a global provider of intelligent network solutions, today shared that RUCKUS® Networks and Nokia announced early access availability to a combined solution, allowing customers to accelerate adoption of their integrated Wi-Fi 7 and Fiber Optical Lan Solution.
- In an AI market obsessed with GPUs and stardust, Nokia (NOK) is quietly reminding investors that none of this magic moves without serious plumbing. While Nvidia (NVDA) prepares to headline its GTC 2026 “Woodstock of AI” showcase, the chip giant has already written a very real check to Nokia, committing a $1 billion investment to help rewire the world’s networks for 5G‑Advanced, 6G, and AI‑native workloads. The message is simple enough: GPUs may be the new rock stars, but networking is the stadium.
- Nvidia delivered strong fourth-quarter results recently, posting revenue of $68.1 billion, well above analyst expectations. Looking ahead, the company projects $7.8 billion in revenue for the first quarter of 2026, reflecting continued robust demand for its AI chips even amid broader market headwinds.
- NVIDIA and Nebius Group N.V. (NASDAQ: NBIS) (March 11) announced a strategic partnership to develop and deploy the next generation of hyperscale cloud for the AI market, from AI natives to enterprises. NVIDIA will invest $2 billion in Nebius.
McDonald’s (MCD, $304.51)
- On April 6, McDonald’s Türkiye reinterprets a globally recognized message with a creative twist in its new campaign inspired by increased travel during holiday periods. Developed for out-of-home, digital, and print channels, the ‘Drink & Drive’ campaign positions McCafé® around the idea of alertness and attentiveness while driving. The brand’s iconic Golden Arches are also transformed into a bold road line, symbolizing the driver’s focus on challenging journeys.
Opendoor (OPEN, $4.36, +.93%)
- Opendoor Technologies, a leading e-commerce platform for residential real estate transactions, reported financial results for its fourth quarter and year ended December 31, 2025. They highlighted the following: October 2025 acquisition cohort tracking as best-performing October in Company history; acquisitions increased 46% quarter-over-quarter while inventory days in possession reduced 23%.
- Opendoor continues to navigate a challenging housing backdrop characterized by still‑elevated mortgage rates and tight existing‑home inventories, which weigh on transaction volumes even as affordability slowly improves. The company’s focus on disciplined acquisition spreads, inventory turns, and ancillary services remains central to the investment debate as markets handicap the pace and magnitude of any 2026 housing recovery.
Tesla (TSLA, $348.95)
Elon Musk’s latest Texas-sized ambition is to build his own AI chip empire, and this time the factory floor will sit right next to the robots, rockets, and robotaxis that plan to use it. The Terafab project, a new semiconductor venture linking Tesla (TSLA), SpaceX, and xAI in Austin, aims to churn out custom chips for AI, humanoid robots, and space systems at a scale that makes today’s GPU land rush look like a warm‑up act. Learn more here.
There are open secrets on Wall Street, and then there is SpaceX’s long‑anticipated march toward the public markets, now reportedly via a confidential filing with the SEC that could set up a June debut. For a company that routinely broadcasts rockets into orbit, it is taking a decidedly hush‑hush approach to its paperwork
Serina Therapeutics (NYSE: SER, $1.96)
Serina Therapeutics (NYSE: SER) (www.serinatx.com) seems to have have just traded itself into Wall Street’s good graces, pairing fresh capital with a late-session pop that suggests investors are finally starting to connect the dots between polymer chemistry and portfolio returns. In Huntsville, Alabama, Serina Therapeutics announced definitive agreements for a private placement of common stock and pre-funded warrants that could bring in up to 30 million dollars in gross proceeds. The first 15 million dollar tranche is expected to close on March 20, 2026, with a second tranche of up to 15 million dollars anticipated by April 30, 2026, subject to customary closing conditions.
What makes the deal stand out in a biotech tape crowded with discounts is the pricing: the securities are being sold at about 2.25 dollars per share, a roughly 68 percent premium to Serina’s March 17 closing price, signaling that insiders are willing to pay up for exposure to the company’s clinical agenda. The financing also adds board-level heft, with director Greg Bailey, M.D., stepping into a Co-Chairman role as he leads the investment, a move that effectively puts the capital and the governance on the same optimistic page. Learn more here.
GeoVax Labs (GOVX, $1.28, +4.07%)
- GeoVax’s (GOVX) latest update on its GEO-MVA program reads less like a small-cap press release and more like a biotech coming-of-age story, with Phase 3 now on the horizon and global health agencies finally circling the dance floor. For investors, the mpox/smallpox candidate is evolving from scientific footnote to potential revenue engine, backed by an accelerated European regulatory path and tangible manufacturing readiness. Learn more here.
- GeoVax announced (Feb. 24) the formation of its Oncology Advisory Board with the appointment of three internationally recognized leaders in immuno-oncology, translational medicine, and clinical development. This Advisory Board will play a central role in guiding the scientific, translational, and clinical advancement of GeoVax’s oncology program, focused primarily on Gedeptin(R), the company’s gene-directed enzyme prodrug therapeutic (GDEPT). GeoVax plans to conduct a Phase 2 trial with Gedeptin in the neoadjuvant setting, pairing it with an immune checkpoint inhibitor (ICI) in locally advanced head and neck squamous cell carcinoma. In parallel, it will be evaluating combination Gedeptin + ICI strategies across additional solid tumor indications.
- GeoVax announced on Wednesday, Feb. 18 that it has entered into an exclusive worldwide license agreement with Emory University for intellectual property covering the use of Gedeptin(R) in combination with immune checkpoint inhibitors (ICIs).
- On February 17, GOVX issued a statement endorsing the urgent call to action articulated by Rosamund Lewis, MD (WHO Head, Poxviruses Programme) and colleagues in their recently published PLOS Medicine article, “The mpox epidemic is not over: Reducing disproportionate burden in Africa and persistent global risk require a sustained response.” (https://journals.plos.org/plosmedicine/article/file?id=10.1371/journal.pmed.1004893&type=printable).
The Sources
- Yahoo Finance – “Why is S&P 500 and US Stocks Reacting Positively to Trump’s Hormuz Blockade?”
https://finance.yahoo.com/markets/stocks/articles/why-p-500-us-stocks-154324275.htmlfinance.yahoo - Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq edge higher as Trump orders Hormuz blockade against Iran” (live blog)
https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-mixed-after-trump-orders-hormuz-blockade-against-iran-145712025.htmlfinance.yahoo - Yahoo Finance – “Dow, S&P 500, Nasdaq futures slide after Iran war talks fail, Trump orders Hormuz blockade”
https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-futures-slide-after-iran-war-talks-fail-trump-orders-ho-145712025.htmlfinance.yahoo - Trading Economics – “United States Stock Market Index”
https://tradingeconomics.com/united-states/stock-markettradingeconomics - CME Group – “April Gold futures reached a record weekly high close”
https://www.cmegroup.com/videos/2026/02/13/april-gold-futures-reached-a-record-weekly-high-close-2-13-26.htmlcmegroup - FXStreet – “Gold falls to near $4650 as Oil surge, US–Iran tensions hit Fed cuts”
https://www.fxstreet.com/news/gold-falls-to-near-4-650-as-oil-surge-us-iran-tensions-hit-fed-cuts-202604130001fxstreet - Fortune – “Current price of oil as of April 10, 2026”
https://fortune.com/article/price-of-oil-04-10-2026/fortune - CNBC – “Market Open: April 13, 2026”
https://www.cnbc.com/video/2026/04/13/market-open-april-13-2026.htmlcnbc - Wall Street Journal – “S&P 500 Index Price & News – SPX (Historical Prices)”
https://www.wsj.com/market-data/quotes/index/SPX/historical-priceswsj - MarketWatch – “Russell 2000 Index Overview – RUT”
https://www.marketwatch.com/investing/index/rutmarketwatch - Barchart – “Russell 2000 Micro Jun ’26 Futures Price (RXM26)”
https://www.barchart.com/futures/quotes/RXM26barchart
