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South Korean Shares Open Slightly Higher on Three-Week Israel-Lebanon Ceasefire Extension
South Korean shares opened slightly higher on Friday, owing to a ceasefire extension of three weeks between Israel and Lebanon. The decision came after talks held between the two parties at the White House on Thursday.The benchmark Korea Composite Stock Price Index, or Kospi, gained marginally to open at 6,496.10. The Kosdaq added 0.2%, or 2.11 points, to open at 1,176.42.The talks marked the first direct diplomatic engagement between Israel and Lebanon in decades, signaling a major breakthrough as the two countries have officially remained at war since 1948.On the Iran front, US President Donald Trump said that he did not want to rush himself when it came to making a deal with the Middle Eastern country. He said he was under no pressure to end the conflict and is focused on making the best possible deal with Iran.Trump claimed the US had total control of the Strait of Hormuz and said access would be allowed once Iran comes to an agreement. He also said that he wants to limit Tehran's oil revenues during the ceasefire.Trump warned that if Iran refuses to negotiate, the US could escalate the situation militarily.
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US Equity Markets Fall After Oil Prices Rise Amid Strait of Hormuz Deadlock
US equity indexes closed lower on Thursday as oil prices rose amid the US-Iran deadlock on the reopening of the Strait of Hormuz.* President Donald Trump said Thursday on Truth Social that he has ordered the US Navy to "shoot and kill" any boat that is laying mines in the Strait of Hormuz, the choke point for about a fifth of global crude oil flows.* US initial jobless claims rose to 214,000 in the week ended April 18 from an upwardly revised 208,000, compared with the 210,000 print expected in a Bloomberg-compiled survey.* May West Texas Intermediate crude oil rose $3.44 to settle at $96.38 per barrel, while June Brent crude, the global benchmark, was last seen up $3.79 at $105.70.* United Rentals (URI) shares were up roughly 23%, the top gainer on the S&P 500, after the company reported higher Q1 adjusted earnings and revenue and lifted its 2026 sales guidance.* ServiceNow (NOW) shares were down nearly 18% after the company reported strong Q1 results, but softer organic revenue trends and a slightly weaker margin outlook weighed on its overall forecast, Oppenheimer said in a note.
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US Equity Indexes Fall as Growth Sectors Undermine Sentiment, Hormuz Standstill Continues
US equity indexes traded lower ahead of Thursday's close, as technology and consumer discretionary stocks weighed amid a continuing standoff over the reopening of the Strait of Hormuz.The Nasdaq Composite fell 1% to 24,423.1, with the Dow Jones Industrial Average down 0.4% to 49,299.9, and the S&P 500 lower by 0.4% to 7,107.2.Shares of International Business Machines (IBM) slid 8.1%, among the steepest decliners on the Dow, following Q1 results. Software growth decelerated to 8% in constant currency from 11% in Q4 and 9% in Q3, a "potential red flag for the bears," CFRA said in a note.Tesla (TSLA) dropped 3.5% after the electric vehicle manufacturer issued higher-than-expected 2026 capital expenditure guidance. TechCrunch reported the electric vehicle manufacturer is planning to spend $25 billion this year, compared with $8.5 billion in 2025.Texas Instruments (TXN) soared 18%, among the biggest outperformers on the S&P 500 and the Nasdaq, after the company posted higher Q1 earnings and revenue and set out Q2 guidance above consensus.President Donald Trump has ordered the US Navy to "shoot and kill" any boat that is laying mines in Hormuz, according to his Truth Social post on Thursday. On the same day, Iran flaunted its tightened grip over Hormuz with a video of commandos storming a cargo ship named MSC Francesca, Reuters reported.The United States and Iran remain at an impasse, with Tehran refusing to negotiate a peace deal as long as the US Navy continues to blockade its ports and Washington refuses to lift the siege.West Texas Intermediate crude oil futures jumped 3.6% to $96.51, and Brent crude futures advanced 3.7% to $105.58.
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