Stocks Surge, Crude Tumbles as Hormuz Reopens… And Tech Earnings On Deck 4/17/26

Fast Money delivers a high-octane recap of a historic market rally driven by geopolitical optimism, as the Strait of Hormuz reopened and Middle East tensions eased, sending stocks soaring to record highs for the third consecutive day. The S&P 500, Nasdaq, and Dow all hit new peaks, fueled by a massive 'risk-on' rotation. Tech giants, particularly the MAG7, led the charge, with Apple gaining traction after strong China iPhone shipments and biotech stocks hitting five-year highs. Energy stocks, however, plunged as oil prices dropped nearly 12% on hopes of peace, creating a sharp reversal in the wartime trade. Analysts debate whether the rally is sustainable, with concerns over overbought conditions and the fragility of a tenuous ceasefire. Despite this, many on the desk see opportunity in sectors like energy, health care, and industrials, while options markets signal strong conviction in upcoming earnings reports from Tesla, Intel, and Boeing. The episode closes with a focus on value ETFs like VLUE, which are outperforming due to deep-value tech holdings like Micron, challenging traditional definitions of value investing.