Happy Thursday! Investors are celebrating as indexes hit new all-time highs, but the V-shaped recovery doesn’t match reality. Read on to see what’s next, and if sentiment shifts, the unwind could be just as big as the rally. 

And this stock stole the spotlight by soaring more than 600% yesterday on a jaw-dropping pivot. See what’s driving the move, and whether it’s a breakout worth chasing, or a signal to step aside.

Plus, if you’re looking for a way to stay bullish on gold while generating weekly income, check out today’s sponsor.

In Today's Edition

• BENZINGA TRIVIA CHALLENGE

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

• SPONSORED CONTENT

Priced For Perfection: S&P 500 Hits All-Time Highs During The Worst Energy Crisis Ever

Markets are sending a powerful signal, but it may not match reality.

Despite one of the largest energy disruptions in decades, with sky-high oil prices, key supply routes still constrained, and the fragile ceasefire that wasn’t honored by Iran, investors are behaving as if nothing ever happened with indexes now at all-time highs.

The V-shaped recovery is pricing in perfection, and if that assumption proves wrong, the unwind could be just as big as the rally. Read on to see what the market is getting right… and what it might be missing.

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Yesterday: U.S. indexes mostly finished higher, with both the S&P 500 and Nasdaq climbing to fresh record highs as improving geopolitical sentiment lifted risk appetite. Optimism was driven by signs of easing tensions between the U.S. and Iran, after President Trump suggested a potential resolution could be near with officials from both sides confirming ongoing discussions. This has propelled the market higher, with the S&P 500 now erasing all losses tied to the recent Iran conflict, and the Nasdaq on an 11-day winning streak. On the earnings front, Q1 results have been strong to start, and are expected to remain solid, with projections of 12.5% year-over-year growth, with eight of eleven sectors expecting to post earnings growth.

On Our Radar: Analysts will be paying attention to jobless claims, industrial production, and capacity utilization for a quick read on labor market health and manufacturing momentum. On the earnings front, all eyes will be on Netflix (NFLX), which will report after the market close today.

Shares of Tesla (TSLA), DoorDash (DASH), Robinhood (HOOD), and Applovin (APP) were flying high, while Lennox (LII), Carrier (CARR), Lucid (LCID), and Sandisk (SNDK) were among the top laggards of the day. But those weren’t the only companies making big moves. Here’s a look at some of the biggest winners and losers on Wednesday. 

See how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.

Space Wars: Amazon just blindsided SpaceX with a satellite deal that could shift the balance of power in space. With IPO expectations hanging in the balance, this shift could matter more than investors realize.

Market Unlocked: Big changes are hitting retail trading rules after the SEC approved changes that removes long-standing restrictions for retail investors. Read on to see what this means for you.

Historic Rally: AMD has surged for its best run since 2005 — and this kind of move has shown up only a few times in its entire trading history. See what history has signaled what happens next.

Valuation Gap: This top analyst is even more bullish on Amazon and Meta. Read on to see why he’s calling them ‘high quality bargains’ and the potential upside they offer.

Stock Of The Day: This tech tech giant is edging closer to a zone traders have circled for months. What happens next could define the next move.

How The REXC ETF Removes China From Rare Earths Equation

Many industries from AI to defense rely on rare earth materials, and vulnerability to a supply chain disruption remains a looming possibility – prompting governments to support strengthening Western supply chains.

China processes the bulk of rare earth materials, and Chinese companies are usually a significant part of the largest rare earths-focused ETF portfolios, introducing a geopolitical risk.

But there is a rare-earth ETF.

The recently launched Sprott Rare Earths Ex-China ETF (REXC) is a fund aiming to provide exposure to the rare earth materials industry while excluding companies located within China. It invests in the companies that generate at least 50% of their revenues from the rare earth and strategic metals segment.

To learn more, click here.

This is a paid ad. Please read the 17b disclosure here. Editor's note: This disclosure link was omitted in error from a prior version of this advertisement, which ran yesterday, 4/15. This disclosure applies to both placements.

IMPORTANT DISCLOSURES & DEFINITIONS

An investor should consider the investment objectives, risks, charges and expenses carefully before investing. To obtain a Sprott Rare Earths Ex-China ETF Statutory Prospectus, which contains this and other information, visit https://sprottetfs.com/rexc/prospectus, contact your financial professional or call 1.888.622.1813. Read the Prospectus carefully before investing.

Diversification does not protect against loss. The Sprott Rare Earths Ex-China ETF is new and has limited operating history. Investors in the Fund should be willing to accept a high degree of volatility in the price of the Fund’s shares and the possibility of significant losses. An investment in the Fund involves a substantial degree of risk. The Fund is not suitable for all investors. The Fund is considered non-diversified and can invest a greater portion of assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund. Compared to base metals, rare earths have more specialized uses, crucial to many of the world’s most advanced technologies. Consequently, the demand for rare earths has strained supply, which may result in a shortage, adversely affecting the companies in the Fund.

Shares are not individually redeemable. Investors buy and sell shares of the Sprott Rare Earths Ex-China ETF on a secondary market. Only authorized participants may trade directly with the Fund, typically in blocks of 10,000 shares.

Nasdaq®, Nasdaq Rare Earths Ex-China™ Index, and NSREXC™ are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by Sprott Asset Management LP. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).

Sprott Asset Management USA, Inc. is the Investment Adviser to the Sprott Rare Earths Ex-China ETF. ALPS Distributors, Inc. is the Distributor for the Sprott ETFs and is a registered broker-dealer and FINRA Member. ALPS Distributors, Inc. is not affiliated with Sprott Asset Management USA, Inc.

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