Gary unpacks the ramifications of the ongoing conflict in Iran and the continued closure of the Strait of Hormuz. As Gary describes, the markets hate uncertainty, and where uncertainty goes, volatility follows.

The Iran conflict continues to dominate the news. Oil prices are moving higher while the markets saw increased volatility this week. With higher energy prices alongside seemingly entrenched inflation, it’s looking less and less likely that the Fed will cut rates this year.

In this week’s episode of 7 Market Movers, Doug Huber covers how the Iranian conflict is impacting the markets; the latest updates on crude oil prices; and what’s going on with redemptions in private credit markets.

Get our take on recent market events, including how markets are responding to the conflict in Iran, artificial intelligence, and more.

This week Gary focuses on the impact of the events in Iran on the markets. With around 20% of the world’s oil and liquified natural gas (LNG) flowing through the Strait of Hormuz, there’s been a surge in oil prices, which could have an inflationary impact.

This week on 7 Market Movers, Doug Huber, Wealth Enhancement Deputy Chief Investment Officer, discusses recent investment market performance

This week on 7 Market Movers, Wealth Enhancement Director, Senior Investment Strategist Ayako Yoshioka discusses recent investment market performance.

Gary analyzes three themes driving the markets this week: the diverging performances of the primary equity indexes; volatility in the tech markets driven by AI-disruption fears; and the imminent inflation (CPI) report.

This week Aya Yoshioka covers how gold has been “on a tear” and up almost 14% so far in 2026. Threats of new tariffs on Europe and proposed tax cuts in Japan rattled the markets, but, despite the volatility, the S&P 500 rallied Thursday afternoon to within 1% of all-time highs.

In this week’s episode of 7 Market Movers, Doug Huber covers labor market updates and the latest unemployment reports; emerging markets performance; geopolitical updates from Iran and Greenland and the impact on commodities. He also dives into the impact of tensions in Iran on oil prices, including a decline of around 4% on Thursday.