May 4, 2026

Markets:

Dow Jones Industrial Average futures slipped on Monday as the latest developments in the Middle East sent oil prices higher, sparking further worries about instability in the region.

Iran’s Navy said it blocked “American-Zionist” warships from entering the zone, according to state TV reports cited by Reuters. A separate dispatch from the Fars new agency said two misses hit a U.S. warship near Jask island after it ignored warnings, though neither report was independently confirmed.

U.S. Central Command later wrote in a post on X that “no U.S. Navy ships have been struck.”

Oil prices jumped across the board Monday. U.S. West Texas Intermediate crude futures rose 3% to trade above $105 per barrel, while international benchmark Brent crude was up 3% to above $111. Energy prices also came off earlier highs following reports that disputed the Iranian accounts.

In a Sunday Truth Social post, President Donald Trump announced “Project Freedom,” which he said entails the U.S. helping to “free” cargo ships of nations that aren’t involved in the Middle East conflict and that have been stranded by the Strait of Hormuz closure. The initiative is slated to start Monday, Trump wrote.

The week’s most dominant economic news release will be the April jobs report, due out on Friday morning at 8:30 a.m. ET. Dow Jones consensus estimates that the U.S. economy is expected to have added just 53,000 jobs in April, far below the prior blowout reading of 178,000, while the unemployment rate is expected to remain at 4.3%.

Portfolio:

Monster week alert!!

Welcome to one of the most important earnings weeks of the quarter:

Tonight: PLTR
Tuesday: AMD ANET LITE SHOP PFE
Wednesday: DIS UBER ARM APP DASH
Thursday: COIN CRWV ABNB COIN
Friday: April Jobs Report

We head into the week holding setups in MRAM, NOK, SOUN, AMPX, and ONDS. Absolutely crushing the last 30 days and this is just the beginning of what’s building. The queue continues to heat up.

We are also watching a potential breakout in Bitcoin. We’ve talked about the correlation between Bitcoin and momentum stocks and how that creates strong opportunity. Watching this closely.

QQQ 670 premarket low support, 672 support, resistance at 676 and above that 680. Looks like buyers stepped in on the dip this morning.

SPY holding above 720. An 800 target by year end is very much in play, possibly even higher.

They will not make it easy, but the overall structure and buildup is hard to ignore.

Be ready this week. Attack mode.