JPMorgan trading desk says it is moving back to 'tactically bullish', saying the ceasefire should drive re-risking and make a move above 7,000 in SPX likely

SPX also likely to be supported by earnings and lower tech valuations JPM strategists say that Strait of Hormuz reopening, a possible two-week extension and normalising oil flows may ease inflation pressures, though residual geopolitical risk and later consumer effects remain