MarketsJun 15, 2026
Markets pivot as Strait of Hormuz reopens
Rhea Lobo
Markets are experiencing a rapid sector rotation following the US and Iran agreement to reopen the Strait of Hormuz. That has been bad news for energy majors like Exxon Mobil, Valero, and Marathon Petroleum, as softer oil prices weigh on the sector. Investors are instead shifting capital into higher-beta areas of the market, helping lift travel names such as Royal Caribbean and Delta Air Lines. Tech stocks, including Micron Technology and Advanced Micro Devices, are also rallying as traders move away from traditional safe-haven sectors like defense. [Read]
