U.S. stocks rise as Brent crude falls, Gary Black notes

U.S. stocks rise as Brent crude falls, Gary Black notes
U.S. stocks advance as Brent crude dips

Gary Black, managing partner at The Future Fund, reports that U.S. stocks rose, with SPX up 0.2% and NDX advancing 0.8%, as investors remained calm despite renewed U.S.-Iran attacks challenging the fragile ceasefire.

Brent crude declined 1.7% to $77 per barrel even as Strait of Hormuz traffic was largely halted. AI chip stocks also rebounded strongly, while SK Hynix’s U.S. activity was highlighted.

Earlier this week, Gary Black highlighted how weak Samsung earnings weighed on U.S. stocks and sent AI chip shares lower while Brent crude prices moved higher in his market update. In a separate note, he compared valuations by stating that investors were paying 150 times 2026 EV/EBITDA for SPCX, far higher than the 19 times multiple for NVDA in his SPCX and NVDA valuation comparison. Both developments occurred amid continued focus on tech and energy sectors.

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