The plunge in crude oil prices today has knocked the 10-year T-note yield down -3 bp to 4.65%. However, tensions remain high in the Middle East as President Trump has raised the possibility of intensified action against Iran. The outlook for strong Q2 earnings, which continue this week, is a bullish factor for stocks. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1's blowout earnings of +30%, which was more than double the +12% analysts had expected. So far, earnings results have been positive, with 86% of the 135 S&P 500 companies that have reported Q2 earnings beating estimates, according to Bloomberg data.