On the Nikkei’s Ascent, Europe’s Energy Crisis & Great US Earnings

Japan’s Nikkei index has soared to a record high in defiance of economic reality. Stagflation looms, and the government has no economic rescue plan. William discusses the reasons for the decoupling of the stock market from economic fundamentals and shares measures the prime minister could take to keep the bulls running. … Also: The closure of the Strait of Hormuz puts European economies in harm’s way. Melissa examines the Eurozone’s exposure to energy imports from the Middle East and the stagflationary implications of the energy-supply shock. … And: Joe reports cheery stats from the 30% of S&P 500 companies that have reported Q1 earnings so far.