Squawk on the Street Stocks Rally on Strait of Hormuz Reopening, Exclusive: KeyCorp CEO, Anthropic’s White House Meeting 4/17/26
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Apr 17, 2026 
Rebecca Patterson, CFR senior fellow and former Bridgewater strategist, gives macro and geopolitical investment context. Chris Gorman, KeyCorp CEO, talks about bank results, credit trends and the consumer outlook. Conversation covers the Strait of Hormuz news, market reactions, Anthropic’s reported White House meeting and implications for finance and tech.
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Strait of Hormuz News Drives Sharp Oil Repricing
- Oil prices plunged after Iran said the Strait of Hormuz would stay open during the Israel-Lebanon ceasefire, easing a major geopolitical risk premium.
- Pippa Stevens and panel noted markets trade headlines faster than flow certainty, and physical tanker repositioning and damaged infrastructure mean normalization will take time.
AI Spending Bolsters Rally Amid Fragile Energy Supply
- Market rally mixes a tech-led rebound driven by concentrated AI CapEx with cyclical questions about supply shocks and inflation from the energy disruption.
- Rebecca Patterson warned inventories released to blunt shocks are being exhausted, so physical supply must return quickly to avoid escalation.
Focus On Netflix Long Term Not Near Term Guidance
- Long-term investors should focus on Netflix's multi-year growth targets rather than short-term margin guidance misses.
- Michael Morris argues Netflix still targets sustained double-digit revenue and 20%+ earnings growth through the decade, making the current price attractive.