Cramer: Markets shrug off Iran war, oil jump ignored
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- Iran closed the Hormuz Strait again, delaying India shipments and pushing West Texas Intermediate crude up more than 5% on Monday.
- S&P 500 set a fresh record on April 17 and slipped only 0.2‑0.4% after the oil surge, showing market resilience.
- Jim Cramer said steady bond yields and strong earnings—exemplified by Cleveland‑Cliffs’ full order book—are buffering equities from the oil shock.
- Nvidia leads the AI‑driven rally that underpins equity valuations, a sector Cramer claims “doesn’t know about Iran”.
- Kevin Warsh is Donald Trump’s nominee to replace Jerome Powell as Fed chair, fueling expectations of future rate cuts that keep stocks buoyant.
Why it matters: AI chipmakers such as Nvidia gain from steady equity valuations, while oil‑sensitive airlines lose as West Texas Intermediate crude climbs over 5%, tightening profit margins and shifting capital toward AI.
