Nasdaq and Russell 2000 have fully erased all losses from the US–Iran conflict.
Both indices are now up ~9% from the March bottom, signaling a strong recovery despite geopolitical chaos.
Look beyond the headlines, fundamentals are telling a different story:
• Global M2 money supply at all-time highs
• ISM above 52 for 3 straight months, a 40-month high
• Inflation near multi-year lows
• New Fed leadership on the horizon
Markets are quietly strengthening under the surface.
If geopolitical tensions ease in the coming days or weeks, this could unlock a powerful upside move.
Smart money focuses on data, not noise.