Hormuz Is the Trade of 2026: Oil Whipsaws, Space Stocks Moon, and Micron Hits $1 Trillion While the World Burns
From Micron's trillion-dollar moment to Momentus surging 109%, the market is doing a lot while pretending the Middle East isn't on fire
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Let's set the scene: Iran is threatening to close the Strait of Hormuz, Saudi Aramco's CEO just bailed on a major energy conference, oil is whipsawing between war-risk premiums and sanctions-relief hope, and somehow $MU (Micron) just crossed a $1 trillion market cap after UBS slapped a $1,600 price target on it. The market contains multitudes.
Bloomberg's YouTube coverage confirms what social sentiment is screaming: the Iran trade is bifurcated. Peace-deal hopium sent the Nasdaq surging 312 points and the S&P 500 up 0.67% to fresh record closing highs — while oil closed just under $94/barrel and the 30-year Treasury crept above 5% for the first time since 2007. Meanwhile, the space sector went full ape: $RDW (Redwire) +26%, UFO ETF +5.7%, all riding SpaceX IPO fever. The war is the macro. The IPO pipeline is the dopamine.
If Hormuz actually closes, every thesis in your portfolio needs a rewrite. If it doesn't, you just bought Micron at the bottom of the fear cycle.