Latest Irish Life weekly markets update

Key talking points include:

• Markets posted strong gains for the third straight week as easing tensions in the Middle East and sliding oil prices fuelled optimism. Upbeat earnings results and a series of generally positive economic data releases helped push the S&P 500 to three consecutive daily record highs.
• The S&P 500 rose by 4.5% (MTD 8.4%, YTD 4.1%) while the Euro Stoxx 600 rose by 1.9% (MTD 4.8%, YTD 5.8%).
• Over the weekend, tensions rose again as Iran reversed course and signalled that the Strait of Hormuz was again closed, stalling shipping activity that had briefly resumed. Although investors still broadly expect a negotiated outcome rather than a prolonged escalation, markets will remain highly sensitive to developments in the region.
• This week, US Fed Chair nominee Kevin Warsh is due to have his senate hearing. President Trump is continuing to put pressure on the current chair to step down but Jerome Powell has committed to staying in place until his successor is confirmed. It's another big week for earnings and we get some inflation, retail sales and PMI data from the US and Europe.