By: Fawad Razaqzada, Market Analyst
Global equity markets are advancing as investors increasingly discount geopolitical tensions and prioritize earnings momentum. As of April 2026, the S&P 500 has broken above the 7000 level, reaching new record highs despite ongoing disruption in the Strait of Hormuz and elevated oil prices. This resilience signals a shift in market psychology, where stability in earnings and growth expectations outweighs traditional risk triggers. Consequently, capital continues to flow into equities even as geopolitical uncertainty remains unresolved.
Fawad Razaqzada, Market Analyst at FOREX.com, has extensive experience analyzing cross-asset market behavior across equities, currencies, and commodities. His perspective is shaped by tracking how geopolitical developments interact with technical momentum and earnings-driven market cycles.
Equity markets are climbing as geopolitical risks fail to trigger a sustained risk-off reaction. Fawad Razaqzada highlights that "investors seem comfortable looking past the noise coming out of the Middle East", underscoring a clear shift in sentiment. This behavior indicates that markets are pricing in stability rather than escalation, even with ongoing tensions in the Persian Gulf. As a result, equity markets continue to attract capital, reinforcing upward momentum and supporting elevated valuations.
The S&P 500 is extending gains as strong earnings and AI-driven optimism reinforce investor confidence. Razaqzada notes that "earnings expectations in the sector are being revised higher", particularly within technology, which remains central to the rally. This upward revision cycle is driving continued inflows into equities and sustaining bullish momentum. Consequently, the durability of the rally is increasingly tied to the ability of corporate earnings, especially in tech, to meet elevated expectations.
Equity markets are rising because investors are focusing on strong corporate earnings and stable growth expectations rather than geopolitical risks.
The rally is supported by strong earnings, particularly from banks and technology companies, alongside continued optimism around AI-driven growth.
A significant escalation in geopolitical tensions, especially one that drives oil prices sharply higher, could trigger a market pullback.
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--- Written by Lindo Xulu, StoneX TV Journalist
--- Expert: Fawad Razaqzada, FOREX.com Market Analyst
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