Mag7 Laggards Take A Leap… And The Oulook For Critical Minerals 4/15/26

Fast Money delivers a high-octane market wrap-up from Times Square, spotlighting a powerful rally across major indices as the Nasdaq hits record highs and the S&P 500 surpasses 7,000 for the first time. The episode centers on the resurgence of the Mag 7, with Tesla and Microsoft leading the charge after strong AI-driven news and a catch-up rally in underperforming tech giants. Analysts debate whether this momentum reflects genuine recovery or FOMO-driven rotation, with Microsoft’s software underperformance and cloud strength drawing particular attention. The geopolitical tension over the Strait of Hormuz, with Trump’s blockade and China’s pushback, dominates the macro narrative, raising concerns about global supply chains and inflation. China’s economic resilience through stockpiles and green energy diversification is noted, but the impact on India and global trade is stark. Meanwhile, ASML faces a 'Micron moment' despite strong earnings, as export controls to China weigh on sentiment. Target and Bank of America deliver upbeat results, with Wall Street betting on retail turnaround and banking strength. The episode closes with a deep dive into the critical minerals sector, featuring Metals Royalty Company’s CEO, who highlights America’s strategic vulnerability in mineral supply and the urgent need for domestic production and international partnerships. The segment ends with a surreal market moment: Allbirds, the defunct shoe brand, surges 875% after pivoting to AI infrastructure—fueling a meme stock frenzy reminiscent of GameStop.