Ceasefire hopes ran the show this week. From stocks to oil to crypto, everything moved on one question: is the Iran conflict winding down or just pausing?

The S&P 500 officially erased all of its Iran war losses and pushed to fresh all-time highs, closing Thursday at 7,041. The Nasdaq went on a 12-session winning streak, longest since 2009, finishing at 24,102. Tech did the heavy lifting again. Meta, Amazon and Nvidia all up 3-4% on the week. Hard to argue with that kind of momentum. But most of it was built on hope, not hard data. The ceasefire expires Monday and nobody has a deal yet.

Oil told the other side of the story. Brent started the week above $100 and pulled back to around $95. WTI dropped from the mid-$90s to $93.74 by Friday after Iran declared the Strait of Hormuz "completely open" for commercial ships. Over 230 tankers had been stuck in the Gulf. Now they can move, at least for the remaining ceasefire window. Markets liked it. Whether it lasts is another question.

TSMC dropped a monster quarter. Profit up 58%, revenue at $35 billion, and a raised full-year outlook with 30%+ growth. AI demand still running hot. Meanwhile Israel and Lebanon agreed to a 10-day ceasefire, another piece in a fragile puzzle that markets chose to price optimistically.

BTC held steady near $75,500 all week, barely flinching through any of it. Gold pushed to $4,878, its fourth straight weekly gain. Both catching bids for different reasons.

Big week, mostly green. But the April 21 deadline is sitting right there. That's when we find out if any of this sticks.

Rest up. Monday could get interesting.