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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

1. 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
2. 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
3. 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
4. Trading Economics – “United States Stock Market Index”
   https://tradingeconomics.com/united-states/stock-markettradingeconomics
5. 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
6. 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
7. Fortune – “Current price of oil as of April 10, 2026”
   https://fortune.com/article/price-of-oil-04-10-2026/fortune
8. CNBC – “Market Open: April 13, 2026”
   https://www.cnbc.com/video/2026/04/13/market-open-april-13-2026.htmlcnbc
9. Wall Street Journal – “S&P 500 Index Price & News – SPX (Historical Prices)”
   https://www.wsj.com/market-data/quotes/index/SPX/historical-priceswsj
10. MarketWatch – “Russell 2000 Index Overview – RUT”
    https://www.marketwatch.com/investing/index/rutmarketwatch
11. Barchart – “Russell 2000 Micro Jun ’26 Futures Price (RXM26)”
    https://www.barchart.com/futures/quotes/RXM26barchart

US stocks logged a second straight winning week in the five days ending Friday, April 10, 2026, as investors digested a hot March CPI print, volatile oil, and fragile U.S.–Iran ceasefire headlines while keeping risk appetite intact.

Index performance

• The S&P 500 rose a bit more than 3% for the week, notching its strongest back‑to‑back weekly gains since late 2024.
• The Dow Jones Industrial Average also advanced over 3% on the week, even as it finished Friday down about 0.6% after the CPI release.
• The Nasdaq Composite gained roughly 4% for the week and closed Friday higher by about 0.4%, extending a powerful multi‑day tech rally.
• The Russell 2000 slipped about 0.2% on Friday to 2,630.59, but small caps still held onto a solid weekly advance of around 3% in the wake of their strong early‑2026 run.

Inflation, Fed, and bonds

• March CPI came in at a 0.9% month‑over‑month gain and 3.3% year‑over‑year, the hottest annual reading since 2024 and driven largely by gasoline.
• Despite the upside surprise versus recent months, markets took the data in stride because it broadly matched expectations and showed limited spillover beyond energy.
• Treasury yields were choppy but ended the week modestly higher, as traders trimmed the number of 2026 Fed cuts they expect while still leaning toward a soft‑landing narrative.

Oil, geopolitics, and commodities

• Oil prices were volatile but ultimately fell sharply on the week, with U.S. crude sliding about 13% to the mid‑90s per barrel, its steepest weekly drop since 2020.finance.
• The pullback reflected hopes that upcoming U.S.–Iran talks in Islamabad and parallel diplomacy involving Israel and Lebanon could stabilize the ceasefire and reopen the Strait of Hormuz.
• Gold ($4,771/oz.) extended a multi‑week advance as investors maintained defensive hedges against both inflation and geopolitical risk, even as equities rallied.

Sector and thematic moves

• Technology and communication services once again led the tape, with chipmakers and AI‑linked names benefiting from both lower oil and the prospect of sustained capital spending.
• Cyclicals such as industrials and materials participated in the advance, aided by improving sentiment around global growth and the possibility of reduced Middle East supply shocks.
• Energy stocks lagged the broader market as crude’s double‑digit weekly decline pressured recent high‑flyers, even though the underlying geopolitical backdrop remained tense.

Market tone and positioning

• The overarching narrative shifted from “war rally” to “data‑and‑policy balancing act,” with investors weighing hot inflation against still‑resilient growth and an active diplomatic track in the Middle East.
• Positioning data and price action suggested a mix of short‑covering, systematic buying, and renewed discretionary interest in large‑cap growth, with small caps and the Russell 2000 consolidating after outsized early‑year gains.markets.
• Heading into mid‑April, the market sits on improved technical footing but remains highly sensitive to incremental Iran headlines, the next inflation prints, and any Fed guidance that might follow the March CPI surprise.

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, $354.91, +8.46% over the last 5-days)

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, $6.86)

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, $4.91)

• 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, $34.30)

• 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, +19.87%) & M2i Global, Inc. (MTWO, +23.02%) over the last 5-days

• 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.
• Volato and M2i Global reaffirmed their goal of closing their business combination in the first quarter of 2026, citing steady advancement through SEC review and integration planning as they move toward a combined listing. The deal, originally announced in 2025, will effectively transition Volato from a pure‑play private aviation operator into a diversified platform spanning aviation technology and critical minerals, with M2i shareholders expected to own the majority of the combined entity. Operationally, the partnership is already visible: the two companies recently initiated their first shipment of titanium ore from Western Australia to the United States from Titanium X, underscoring how the critical‑minerals vertical could become a meaningful growth engine as domestic supply‑chain security rises in strategic importance.
• 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, $183,91, +6.34%) (NOK, $9.46, +7.26%) over the last 5-days

• 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, $305.68)

• In the run-up to World Protein Day on 27th February, McDonald’s India (West & South), owned and operated by Westlife Foodworld, is celebrating Protein Week, reinforcing its leadership in nutrition-led innovation. Making protein more accessible, affordable and customizable, Indian consumers can use the McDonald’s app to explore these nutritious offerings and avail of protein burgers starting at just INR 69. Enhancing this convenience, consumers ordering via McDelivery can also enjoy free delivery on the Protein Plus meal range.

Opendoor (OPEN, $4.32)

• 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, $1.98)

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, $1.23)

• 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

Investing.com – Analysis: “Week in Focus: US-Iran Talks, Earnings Season, PPI and Chinese …”
https://www.investing.com/analysis/week-in-focus-usiran-talks-earnings-season-ppi-and-chinese-gdp-200678229

Yahoo Finance – “Stocks post second straight winning week amid fragile US-Iran ceasefire and hot inflation data”
https://finance.yahoo.com/news/live/stock-market-today-stocks-mixed-as-nasdaq-rises-dow-falls-after-march-cpi-data-shows-surging-energy-costs-230420728.html

Yahoo Finance – “Stock Market News for Apr 2, 2026”
https://finance.yahoo.com/markets/stocks/articles/stock-market-news-apr-2-132700382.html

Barchart – “How major US stock indexes fared Thursday 4/2/2026”
https://www.barchart.com/story/news/1124508/how-major-us-stock-indexes-fared-thursday-4-2-2026

The Seattle Times – “How major US stock indexes fared Thursday 4/2/2026”
https://www.seattletimes.com/business/how-major-us-stock-indexes-fared-thursday-4-2-2026

Investopedia – “Markets News, April 2, 2026: Major Indexes Snap 5-Week Skids…”
https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-04022026-11941129

TIMGT – “Stock Market Update for the Week Ending in April 2, 2026”
https://www.timgt.com/stock-market-update-for-the-week-ending-in-april-2-2026/

Tallus Wealth Management – “Weekly Market Performance | April 2, 2026”
https://talluswealthmanagement.com/2026/04/02/weekly-market-performance-april-2-2026/

Yahoo Finance – Russell 2000 Index (^RUT) Historical Data
https://finance.yahoo.com/quote/%5ERUT/history/

MarketWatch – Market news archive for April 2, 2026
https://www.marketwatch.com/archive/2026/04/02

Yahoo Finance – CPI-linked markets and news page
https://finance.yahoo.com/quote/%5ECPI/news/

Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq rebound to extend winning streak, oil rises ahead of US-Iran talks”
https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-rebound-to-extend-winning-streak-oil-rises-ahead-of-us-iran-talks-123000000.html

Wall Street Journal – “Stock Market Today: Dow Slips After CPI Report Showed …” (CPI live coverage, April 10, 2026)
https://www.wsj.com/livecoverage/cpi-inflation-data-stock-market-04-10-2026

Wall Street Journal – “Why Markets Are Mostly Calm After March’s Hot Inflation Print”
https://www.wsj.com/livecoverage/cpi-inflation-data-stock-market-04-10-2026/card/9cOjlkLKhyGrukcMKVjd

DTN/Progressive Farmer – “Stocks Waver, Oil Prices Hold Steady Ahead of Planned US-Iran Talks”
https://www.dtnpf.com/agriculture/web/ag/news/world-policy/article/2026/04/10/stocks-waver-oil-prices-hold-steady

CNBC – “Stock market news for April 10, 2026”
https://www.cnbc.com/2026/04/09/stock-market-today-live-updates.html

Wall Street Journal – “Global Markets Cautious Ahead of Weekend U.S.-Iran Negotiations”
https://www.wsj.com/finance/stocks/global-markets-cautious-ahead-of-weekend-u-s-iran-negotiations-42511501

Bloomberg – “US Stock Rally Stalls on Weak Consumer Data; US-Iran Talks Ahead”
https://www.bloomberg.com/news/articles/2026-04-10/us-stocks-seven-day-rally-stalls-ahead-of-cpi-us-iran-talks

Trading Economics – United States Stock Market Index
https://tradingeconomics.com/united-states/stock-market

FRED (St. Louis Fed) – S&P 500 (SP500)
https://fred.stlouisfed.org/series/SP500

The Seattle Times – “How major US stock indexes fared Friday 4/10/2026”
https://www.seattletimes.com/business/how-major-us-stock-indexes-fared-friday-4-10-2026

MarketWatch – Market news archive for April 10, 2026
https://www.marketwatch.com/archive/2026/04/10

Curvo – Russell 2000: historical performance from 2005 to 2026
https://curvo.eu/backtest/en/market-index/russell-2000

FinancialContent / MarketMinute – “Markets Rally on CPI Relief: S&P 500 and Nasdaq Climb as Inflation …”
https://markets.financialcontent.com/article/marketminute-2026-4-10-markets-rally-on-cpi-relief-s-and-p-500-and-nasdaq-climb-as-infl

MarketMinute – “The Great Rotation: Russell 2000 Surges 8.9% as Small-Cap Value …”
https://markets.financialcontent.com/stocks/article/marketminute-2026-3-11-the-great-rotation-russell-2000-surges-89-as-small-ca

LSEG / FTSE Russell – “Russell 2000 Index Quarterly Chartbook – February 2026”
https://www.lseg.com/en/ftse-russell/research/russell-2000-index-quarterly-chartbook

Investing.com – Russell 2000 Historical Data (RUT)
https://www.investing.com/indices/smallcap-2000-historical-data

US stocks were mixed on Thursday, April 9, 2026, as the market’s powerful two‑day rebound met renewed geopolitical jitters and a partial rebound in oil prices.

Indexes and overall tone

• After Wednesday’s surge, major averages cooled early as traders reassessed the durability of the U.S.–Iran two‑week ceasefire and monitored fresh headlines out of the Middle East.
• Early-session traded to a modest pullback, with the Dow (48, 185.80, +.58%), S&P 500 (6,824.66, +.62%), and Nasdaq (22, 822.42, +.83%) moving lower, prior to rallying modestly in the second half of the day.
• The small caps on the Russell 2000 (2,636.31, +.60%) remained positive throughout the session,

Geopolitics, oil, and rates

• The two‑week ceasefire between the U.S. and Iran showed signs of strain as Iran alleged violations and Israel continued strikes in Lebanon, keeping investors focused on headline risk.
• Brent and WTI, which had plunged more than 10%–13% on the initial ceasefire relief, rebounded roughly 3% on Thursday, lifting energy shares and reviving inflation worries.
• The 10‑year Treasury yield was little changed in the U.S., while European yields pushed higher as traders continued to price in the risk that central banks may need to stay tighter for longer.

The Macro

U.S. macro data for the week of April 6–10 has refreshed the growth, inflation, and sentiment backdrop, with markets digesting ISM services and assorted early‑week activity indicators, mid‑week readings tied to orders and Fed communications, and a heavy Thursday slate that included final Q4 GDP revisions, personal income and outlays, the core PCE inflation gauge, and weekly jobless claims. Taken together, the releases painted a picture of late‑2025 growth that is slowing but still positive, with inflation running above the Fed’s long‑run goal and keeping policymakers in a data‑dependent holding pattern rather than clearly teeing up a rapid easing cycle. Looking ahead to Friday, April 10, the focus turns squarely to March’s Consumer Price Index—headline and core CPI alongside real earnings and the monthly budget statement—which is expected to be the week’s pivotal input for rate expectations, risk appetite, and the path of policy into the second half of 2026.

Sector and style moves

• The market’s leadership continued to tilt away from the mega‑cap tech complex toward more cyclical areas that benefit from easing war fears, including industrials, financials, and select consumer names.
• Energy stocks caught a bid as crude prices bounced, while rate‑sensitive areas—such as parts of growth tech and long‑duration assets—gave back a slice of Wednesday’s rally.
• Internationally, Asia‑Pacific and most European indices finished lower, reflecting skepticism about the ceasefire’s durability, even as U.S. equities tried to hold on to recent gains.

Crypto and broader risk sentiment

• The recent crypto rally, led by bitcoin and ether, slowed as cross‑asset risk appetite cooled alongside equities, though digital assets continued to trade at elevated levels versus earlier in the year. Bitcoin (BTX) was trading at the ~$72.4K level this afternoon.
• Overall risk sentiment shifted from Tuesday–Wednesday’s relief‑rally euphoria toward a more cautious stance, with investors balancing strong recent index gains against the reality that “markets certainly aren’t done with the Iran war,” as one strategist put it.
• Gold prices

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, $354.91, +1.22%)

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, $7.08, +2.91%)

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, $5.02)

• 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, $35.05, +.43%)

• 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, +4.74%) & M2i Global, Inc. (MTWO, +25.22%)

• 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.
• Volato and M2i Global reaffirmed their goal of closing their business combination in the first quarter of 2026, citing steady advancement through SEC review and integration planning as they move toward a combined listing. The deal, originally announced in 2025, will effectively transition Volato from a pure‑play private aviation operator into a diversified platform spanning aviation technology and critical minerals, with M2i shareholders expected to own the majority of the combined entity. Operationally, the partnership is already visible: the two companies recently initiated their first shipment of titanium ore from Western Australia to the United States from Titanium X, underscoring how the critical‑minerals vertical could become a meaningful growth engine as domestic supply‑chain security rises in strategic importance.
• 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, $183,91, +1.01%) (NOK, $9.55, +1.17%)

• 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, $309.55, +.83%)

• In the run-up to World Protein Day on 27th February, McDonald’s India (West & South), owned and operated by Westlife Foodworld, is celebrating Protein Week, reinforcing its leadership in nutrition-led innovation. Making protein more accessible, affordable and customizable, Indian consumers can use the McDonald’s app to explore these nutritious offerings and avail of protein burgers starting at just INR 69. Enhancing this convenience, consumers ordering via McDelivery can also enjoy free delivery on the Protein Plus meal range.

Opendoor (OPEN, $4.31)

• 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, $345.62, +.69%)

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, $2.00)

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, $1.16)

• 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

Here’s a numbered source list you can drop under the market summary:

1. Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq rebound to extend winning streak; oil rises ahead of US-Iran talks”
   https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-rebound-to-extend-winning-streak-oil-rises-ahead-of-us-iran-talks-200158758.htmlfinance.yahoo
2. Investopedia – “Markets News, April 9, 2026: U.S. Indexes End Higher, Oil Pares Gains on Iran Ceasefire Optimism; Dow Turns Positive for Year”
   https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-04092026-11946208investopedia
3. The Wall Street Journal – “Stock Market Today: Dow Gains; Oil Rebounds After Iran Cease-Fire Gets Off to Shaky Start — Live Updates”
   https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-09-2026wsj
4. TheStreet – “Stock Market Today (Apr. 9, 2026): Nasdaq, Dow rise despite Iran ceasefire hiccups”
   https://www.thestreet.com/latest-news/stock-market-today-apr-9-2026-updatesthestreet
5. CNBC – “Stocks extend relief rally on hopes that U.S.-Iran ceasefire will stick, Dow turns positive for 2026”
   https://www.cnbc.com/2026/04/08/stock-market-today-live-updates.htmlcnbc
6. Bloomberg – “Oil Rises After Biggest Drop Since 2020 as Hormuz Stays Blocked”
   https://www.bloomberg.com/news/articles/2026-04-08/latest-oil-market-news-and-analysis-for-april-9bloomberg
7. CNBC – “Oil rally loses steam after Israel agrees to negotiate with Lebanon”
   https://www.cnbc.com/2026/04/09/oil-prices-today-wti-brent-iran-accuse-us-of-ceasefire-breach.htmlcnbc
8. MarketWatch – “U.S. stocks end higher as S&P 500, Nasdaq post 4th straight daily gains; Dow ends at 3-week high” (live coverage archive)
   https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p-500-and-nasdaq-set-for-mixed-start-as-iran-war-stretches-intmarketwatch
9. MarketWatch – U.S. Economic Calendar
   https://www.marketwatch.com/economy-politics/calendarmarketwatch
10. BLS – “Schedule of Selected Releases for April 2026”
    https://www.bls.gov/schedule/2026/04_sched.htmbls
11. “The Week Ahead: Key Economic Events to Watch (6–10 April 2026)”
    https://www.linkedin.com/pulse/week-ahead-key-economic-events-watch-610-april-2026-godocm-slgzflinkedin
12. FinancialJuice – “Week Ahead: Economic Indicators 6th – 10th April (US)”
    https://features.financialjuice.com/2026/04/03/week-ahead-economic-indicators-6th-10th-april-us/features.financialjuice

US equities ripped higher Wednesday as news of a two‑week US‑Iran ceasefire and plans to reopen the Strait of Hormuz triggered a global relief rally, sent oil prices sharply lower, and eased near‑term inflation and Fed worries.

Index moves and risk tone

The Dow Jones Industrial Average surged by well over 1,000 points, rising roughly 3% and reclaiming its highest levels in about a month as investors bought back into economically sensitive blue chips. The S&P 500 climbed around 2.5%, with gains broadly distributed across cyclical, financial, and growth sectors as the energy‑shock overhang faded. The Nasdaq Composite led with an advance of roughly 3.5%, powered by large‑cap tech and AI‑linked names as falling yields and calmer geopolitical headlines revived risk appetite. The small cap stocks on the Russell 200 joined the party climbing +2.97% to close at 2,620.46.

Ceasefire and macro backdrop

President Donald Trump announced that the US and Iran agreed to a two‑week ceasefire that includes reopening the vital Strait of Hormuz for “complete, immediate, and safe” commercial shipping, reducing the risk of a prolonged supply shock. Iranian officials signaled a halt to “defensive operations” during the truce, helping global markets quickly price out some of the worst‑case war scenarios that had dominated trading in recent weeks. The result was a classic risk‑on pattern: equities rallied, credit spreads tightened, and volatility gauges retreated, even as investors remained attuned to headline risk around how durable the ceasefire will prove.

Oil, rates, and Fed expectations

Crude reversed violently lower, with Brent and WTI tumbling more than 10% intraday and sliding back below recent war‑driven peaks as traders unwound a sizable geopolitical risk premium. The sharp drop in oil fed directly into rate markets, with Treasury yields edging down as investors reassessed the odds that elevated energy prices would force the Federal Reserve into a more hawkish stance. Futures now lean more toward additional policy easing later this year, on the view that a contained conflict and cheaper crude could cap headline inflation and relieve some pressure on consumers.

Sectors most impacted by the Strait of Hormuz

Today’s rally spotlighted how central the Strait of Hormuz is to multiple sectors. Upstream oil and gas producers, refiners, petrochemical complexes, and LNG exporters are on the front line, given that a large share of global seaborne crude, refined products, LPG, and LNG normally passes through the chokepoint. Shipping and logistics are also highly exposed: tanker owners, LNG carriers, and marine service providers face volume and insurance risk when transits are curtailed, while container lines and freight operators contend with rerouting, higher fuel costs, and longer transit times. On the demand side, airlines, trucking firms, and other transportation users feel swings in jet fuel and diesel quickly, while power‑intensive industries and utilities in energy‑import‑dependent Asian economies are sensitive to any sustained disruption.

Further down the chain, energy‑intensive manufacturing and materials are affected through higher and more volatile input costs. Petrochemicals, plastics, synthetic fibers, and textiles rely on feedstocks and fuels tied to Gulf flows, while metals and heavy industry can see margin pressure when aluminum and other exports from the region are delayed or repriced. Fertilizer producers and global agriculture are another key node; constrained nitrogen‑based fertilizer flows can lift farming costs and eventually ripple into food processing and consumer staples pricing.

Cross‑asset performance and setup

Within equities, energy stocks lagged as the sudden removal of the war premium hit producers and recent high‑beta winners in the oil patch, while rate‑sensitive growth, travel, and consumer‑discretionary names outperformed on the combination of lower yields and cheaper fuel. Airline stocks were among the notable beneficiaries, helped by both the macro backdrop and company‑specific updates that pointed to resilient premium‑travel demand. Safe‑haven assets such as gold and longer‑dated Treasuries remained relatively firm despite the equity surge, reflecting a hedged positioning stance in case ceasefire talks falter. With major indices reclaiming important technical levels in a single session, the next phase for markets will hinge on how durable the Hormuz reopening proves and whether upcoming Fed communications validate the more benign policy path that today’s cross‑asset price action began to discount.

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, $350.63, +4.99%)

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, $6.88, +1.62%)

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, $5.10)

• Modular Medical, Inc., an innovative insulin delivery technology company, announced (March 26) that it will effect a 1-for-30 reverse stock split of its outstanding common stock. The reverse stock split will become effective at 5:30am ET on March 31, 2026. The common stock is expected to begin trading on a split-adjusted basis on the Nasdaq Capital Market (“Nasdaq”) under the same symbol “MODD” when the market opens on March 31, 2026, with the new CUSIP number 60785L306. The reverse stock split was approved by the Company’s shareholders at the Company’s fiscal 2026 Annual Meeting, held on January 23, 2026. The reverse stock split is intended to increase the per share trading price of the Company’s common stock to satisfy the $1.00 minimum bid price requirement for continued listing on Nasdaq. The reverse stock split will reduce the number of outstanding shares of the Company’s common stock from 139,810,797 shares pre-reverse split to approximately 4,660,360 shares post-reverse split. The number of authorized shares of common stock and the par value per share will remain unchanged. As a result of the reverse stock split, every 30 shares of the Company’s pre-reverse split common stock will be combined and reclassified into one share of common stock, as applicable. Proportionate voting rights and other rights of such holders will not be affected by the reverse stock split. Holders of fractional shares will be paid cash in lieu of shares.
• Modular Medical recently priced a public offering of 68,098,000 shares of common stock (or pre-funded warrants) alongside warrants to buy an equivalent number of shares, targeting gross proceeds of about 12 million dollars before fees. The combined public offering price of roughly 17.62 cents per share and accompanying warrant comes at a premium to the prevailing market, a rare feat in a sector where financings often resemble clearance sales rather than premium shelf space.
• Earlier this in 2025, the company began production of validation lots for its disposable cartridge and infusion set, keeping it on track for a planned commercial launch in the first quarter of 2026, contingent on FDA 510(k) clearance—an event path that positions upcoming regulatory decisions as key stock catalysts.

The InterGroup Corporation (INTG, $34.90)

• 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)

• 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.
• Volato and M2i Global reaffirmed their goal of closing their business combination in the first quarter of 2026, citing steady advancement through SEC review and integration planning as they move toward a combined listing. The deal, originally announced in 2025, will effectively transition Volato from a pure‑play private aviation operator into a diversified platform spanning aviation technology and critical minerals, with M2i shareholders expected to own the majority of the combined entity. Operationally, the partnership is already visible: the two companies recently initiated their first shipment of titanium ore from Western Australia to the United States from Titanium X, underscoring how the critical‑minerals vertical could become a meaningful growth engine as domestic supply‑chain security rises in strategic importance.
• 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, $182.08, +2.23%) (NOK, $9.44, +6.67%)

• 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, $307,01, +.71%)

• In the run-up to World Protein Day on 27th February, McDonald’s India (West & South), owned and operated by Westlife Foodworld, is celebrating Protein Week, reinforcing its leadership in nutrition-led innovation. Making protein more accessible, affordable and customizable, Indian consumers can use the McDonald’s app to explore these nutritious offerings and avail of protein burgers starting at just INR 69. Enhancing this convenience, consumers ordering via McDelivery can also enjoy free delivery on the Protein Plus meal range.

Opendoor (OPEN, $4.64, +1.98%)

• 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, $343.25)

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, $2.02)

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, $1.21)

• 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

1. Yahoo Finance – “Stock market today: Dow soars over 1,000 points, S&P 500 and Nasdaq surge on news of 2-week US-Iran ceasefire”
   https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-surge-oil-plunges-after-us-iran-ceasefire-sparks-relief-rally-200305068.htmlfinance.yahoo
2. TheStreet – “Stock Market Today (Apr. 8, 2026): Futures soar, oil falls as Trump suspends Iran attack”
   https://www.thestreet.com/latest-news/stock-market-today-apr-8-2026-updatescoastreporter
3. CNBC – “U.S.-Iran ceasefire: gold, oil, stocks, treasuries”
   https://www.cnbc.com/2026/04/08/us-iran-ceasefire-gold-oil-stocks-treasuries.htmlcnbc
4. BBC – “Oil prices plunge and shares jump on US-Iran ceasefire plan”
   https://www.bbc.com/news/articles/c8r40y3rv75obbc
5. Coast Reporter – “TSX, U.S. markets surge in relief rally, oil drops after ceasefire announced”
   https://www.coastreporter.net/national-business/tsx-us-markets-surge-in-relief-rally-oil-drops-after-ceasefire-announced-1211272coastreporter
6. NBC News – “Oil plunges, stock futures rally on Trump floating Iran ceasefire”
   https://www.nbcnews.com/business/markets/oil-prices-stocks-trump-iran-ceasefire-rcna267182nbcnews
7. U.S. Energy Information Administration – “The Strait of Hormuz is the world’s most important oil transit chokepoint”
   https://www.eia.gov/todayinenergy/detail.php?id=61002eia
8. BloombergNEF – “Oil Products Arbs and Flows: All Eyes On Strait of Hormuz”
   https://about.bnef.com/insights/commodities/oil-products-arbs-and-flows-all-eyes-on-strait-of-hormuz/about.bnef
9. Global Trade Magazine – “Strait of Hormuz Disruptions Threaten Global Supply Chains Beyond Oil”
   https://www.globaltrademag.com/strait-of-hormuz-disruptions-threaten-global-supply-chains-beyond-oil/globaltrademag
10. Down To Earth – “Strait of Hormuz Closure: Global Supply Chains at Risk, Study Reveals”
    https://www.downtoearth.org.in/economy/prolonged-closure-of-the-strait-of-hormuz-could-severely-disrupt-global-supply-chains-study-92657downtoearth
11. Institute for Energy Research – “Persian Gulf Oil Exports and the Strait of Hormuz”
    https://www.instituteforenergyresearch.org/fossil-fuels/gas-and-oil/persian-gulf-oil-exports-and-the-strait-of-hormuz/instituteforenergyresearch
12. The Fertilizer Institute – “Strait of Hormuz Closure & Impacts to Fertilizer”
    https://www.tfi.org/media-center/2026/03/04/tfi-strait-of-hormuz-closure-impacts-to-fertilizer/tfi