The market is on fire today, with prices surging to new heights amidst the ongoing drama between President Trump and Iran. The tension between the two nations has investors flocking to safe-haven assets, driving up the price of gold and other precious metals. The S&P 500 is also having a strong day, with many stocks reaching new highs for the year.

Momentum names are leading the charge, with GSXUHMOM and GSTMTMEM both up over 4% today. These types of stocks have been popular among investors in recent months, as they offer the potential for high returns in a rapidly growing market. However, some analysts are warning that these names may be due for a correction, particularly if the broader market takes a turn for the worse.

Meanwhile, AI at Risk names are struggling today, with many stocks down significantly. This is not unexpected, given the ongoing concerns about the potential impact of the war in Iran on the global economy. Payments are also seeing weakness, as investors become more cautious and seek safe havens for their money.

In terms of positioning, global book was net bought yesterday, with short covering exceeding long selling in a 3.2 to 1 ratio. This suggests that investors are becoming more optimistic about the market, and are willing to take on more risk in pursuit of higher returns. However, it’s worth noting that gross leverage remains high, indicating that investors are still taking on a significant amount of risk.

Overall activity levels are up 3% versus the trailing two weeks, slightly lagging behind the broader market. This suggests that while investor enthusiasm remains strong, there may be some caution creeping into the market as well.

In terms of our franchise, we continue to see strong demand for our services, particularly in the areas of data analytics and portfolio management. As the market continues to evolve, we are well-positioned to help investors navigate the complexities and make informed decisions about their investments.