Hate to Suggest Partying Like It's 1999, But...

Opinion NewsletterJohn Authers, ColumnistHate to Suggest Partying Like It's 1999, But...At the risk of overstating, the similarities are getting too big to ignore.April 28, 2026 at 4:05 AM UTCBy John AuthersJohn Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”FacebookXLinkedInEmailLinkGiftExpandParty’s on: IPO at the Nasdaq MarketSite last Friday.Photographer: Michael Nagle/BloombergFacebookXLinkedInEmailLinkGiftGift this articleContact us:Provide news feedback or report an errorSite feedback:Take our SurveyNew WindowFacebookXLinkedInEmailLinkGiftBookmarkSave To get John Authers’ newsletter delivered directly to your inbox, sign up here. Is the stock market right to “look past” the conflict in Iran? It’s a popular question with Brent crude back to $108 per barrel, and there’s ample reason to fear that the dangers of the blockade of the Strait of Hormuz have been understated. But there’s an equal and opposite question: Would the market be right to look past a growth in corporate earnings that is beginning to look historic?