US stocks trade flat as investors weigh Hormuz blockade, earnings
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US stocks are trading flat as investors weigh the impact of a potential Hormuz blockade and upbeat earnings from major banks. The price of gold is also being closely watched, with some analysts predicting a pullback due to overbought conditions.
US stocks are trading flat due to concerns over a potential Hormuz blockade and renewed US-China trade tensions. Despite this, earnings from Bank of America and Morgan Stanley have been positive. Treasury Secretary Scott Bessent announced plans to set price floors to combat China's market manipulation. Gold prices have surged over 57% in 2025, but some analysts predict a pullback due to overbought conditions. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) indicators are red hot, suggesting a coming pullback. A pullback of 4-5% is possible, with the price potentially retreating below $4,000.
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