Julian Emanuel sees the bull market as resilient with FOMO potentially ahead, but warns that a persistent oil price shock above $4.50/gallon or triple-digit WTI for 4 months is the biggest threat to the economy and stock market. He views the SpaceX IPO as a data point on the way to higher prices, not an endpoint.

Maha Yahya argues that the ongoing military confrontation makes a diplomatic outcome less likely, not more. The lack of trust between the US and Iran has deepened significantly. She believes the Iranian regime can hold on until November, counting on its ability to make it difficult for President Trump and ordinary Americans as inflation and oil prices mount.