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Rose with other US benchmarks as a US-Iran peace framework to reopen the Strait of Hormuz pushed crude oil prices lower.

Japan

US Equity Indexes Mixed as Investors Await Iran Peace Talks, Red Hot Inflation Lifts Treasury Yields

US equity indexes were mixed in the final leg of trading on Friday, ahead of the high-stakes Iran peace talks in Pakistan and as a red-hot inflation report lifted government bond yields.The Nasdaq Composite rose 0.3% to 22,900.3, while the S&P 500 fell 0.1% to 6,816.7 and the Dow Jones Industrial Average slid 0.5% to 47,931.5.If a peace deal is not reached this weekend at Pakistan-brokered negotiations in Islamabad, the US is prepared to renew and intensify strikes on Iran, US President Donald Trump said, according to a CNN news report. The war in the Middle East drove up the US inflation rate threefold in March amid soaring gasoline prices, data from the Bureau of Labor Statistics showed.Iran's parliament speaker, Mohammad Bagher Ghalibaf, reportedly said talks cannot start until the US meets two conditions: a ceasefire in Lebanon and the release of blocked Iranian assets. Ambassadors from Israel, Lebanon, and the US will hold talks in Washington, DC, on Friday to set the table for future negotiations between Israel and Lebanon, an Israeli official and a source familiar with the talks told CNN.US Vice President JD Vance, setting off for US-Iran talks, said Washington is "willing to extend the open hand" this weekend but warned Tehran not to "try to play us," The Wall Street Journal reported.West Texas Intermediate crude oil futures fell 1.6% to $96.27, and Brent crude futures slid 1.4% to $94.68, moving between gains and losses on Friday as Israel's continued attacks on Lebanon and a severely restricted Strait of Hormuz risked the Iran ceasefire deal ahead of the talks.In US economic news, the consumer price index accelerated to its highest monthly reading in nearly four years, rising 0.9% in March, in line with expectations. Energy prices jumped about 11% sequentially in March, led by a 21% surge in gasoline, accounting for almost three-quarters of the headline increase, the Bureau of Labor Statistics data showed.US Treasury yields rose, with the 10-year up 2.2 basis points to 4.32% and the two-year climbed 1.6 basis points to 3.80%.

Dow JonesNasdaq CompositeS&P 500
US Markets

Equity Markets Mixed Intraday Ahead of US-Iran Talks

US benchmark equity indexes were mixed intraday as traders awaited upcoming talks between Washington and Iran and parsed the latest inflation data.The Dow Jones Industrial Average was down 0.6% at 47,922.5 after midday Friday, while the S&P 500 fell 0.1% to 6,815.3. The Nasdaq Composite rose 0.2% to 22,870.8. Among sectors, consumer staples saw the biggest decline, while technology paced the gainers.West Texas Intermediate crude oil was up 0.5% at $98.32 a barrel intraday.Officials from the US and Iran are expected to meet Saturday in Pakistan, which helped broker a recent two-week truce between the two countries.The US is ready to renew and increase strikes on Iran if the parties are unable to reach a peace deal in the upcoming talks, CNN reported Friday, citing President Donald Trump. Negotiations can't start until the US agrees to a ceasefire in Lebanon and the release of blocked Iranian assets, the news outlet reported, citing Iran's parliament speaker.US Treasury yields were higher intraday, with the 10-year rate up four basis points at 4.32% and the two-year rate rising 3.9 basis points to 3.81%.In economic news, US consumer inflation accelerated to its highest monthly reading in nearly four years in March as the Middle East conflict sent energy prices sharply higher, official data showed."The fallout of the US/Israel-Iran war was evident in the March consumer price index," Oxford Economics said in a note.US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, a survey by the University of Michigan showed."Demographic groups across age, income, and political party all posted setbacks in sentiment, as did every component of the index, reflecting the widespread nature of this month's fall," Surveys of Consumers Director Joanne Hsu said. "Economic expectations will likely improve after consumers gain confidence that the supply disruptions stemming from the Iran conflict have ended and gas prices have moderated."In company news, ServiceNow (NOW) shares were down 8.6% intraday, among the worst performers on the S&P 500.The enterprise software company's competitive advantage may have eroded amid growing evidence that workflow automation tasks can be automated by harnessing artificial intelligence models, UBS Securities said in a note. The brokerage downgraded its rating on the stock to neutral from buy and lowered its price target to $100 from $170.CoreWeave (CRWV) shares jumped 11% after the AI cloud computing company struck a deal to support the development and deployment of Anthropic's Claude AI models.Other major tech names were also advancing intraday, with Nvidia (NVDA) up 2.4%, the biggest gainer on the Dow, while Super Micro Computer (SMCI) jumped 9.2%, the best performer on the S&P 500. Broadcom (AVGO), Advanced Micro Devices (AMD), and Amazon.com (AMZN) were also firmly in the green.Gold was down 0.6% at $4,790 per troy ounce, while silver rose 0.1% to $76.48 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$AVGO$CRWV$NOW$NVDA$SMCI
Asia Markets

Exchange-Traded Funds Fall, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV declined. Actively traded Invesco QQQ Trust (QQQ) eased 0.1%.US equity indexes were mixed in midday trading Friday as a fragile Iran ceasefire deal looked set to hold until peace talks start in Pakistan.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each dropped about 0.8%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) rose 0.4%; iShares US Technology ETF (IYW) and iShares Expanded Tech Sector ETF (IGM) each added 0.3%.The State Street SPDR S&P Semiconductor (XSD) gained 1.6%, and iShares Semiconductor (SOXX) climbed 2.4%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell 1.1%. Direxion Daily Financial Bull 3X Shares (FAS) declined 3.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed 3.6%.CommoditiesCrude oil rose 0.6%, and the United States Oil Fund (USO) eased 0.4%. Natural gas fell 012%, and the United States Natural Gas Fund (UNG) dropped 0.8%.Gold on Comex lost 0.7%, and the State Street SPDR Gold Shares (GLD) fell 0.1%. Silver shed 0.1%, and iShares Silver Trust (SLV) rose 0.8%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) eased 1%. The Vanguard Consumer Staples ETF (VDC) fell 1.1%, and iShares Dow Jones US Consumer Goods (IYK) was 0.6% lower.The State Street Consumer Discretionary Select Sector SPDR (XLY) fell 0.3%. VanEck Retail ETF (RTH) dropped 0.6%, while the State Street SPDR S&P Retail (XRT) declined 1.4%.Health CareThe State Street Health Care Select Sector SPDR (XLV) fell 0.9%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) dropped. IShares Biotechnology ETF (IBB) shed 1.6%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) eased 0.1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) dropped.CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 0.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) added 1.2%, ProShares Ether ETF (EETH) gained 1.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was up 0.2%.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH
Asia Markets

US Equity Indexes Mixed Amid Anticipated Iran Peace Talks, Expected Hot Inflation

US equity indexes were mixed in Friday's midday trading as a fragile Iran truce looked set to hold until peace talks begin in Pakistan on Saturday, while a red-hot inflation read was in line with the outlook.The Nasdaq Composite rose 0.3% to 22,887.1, while the S&P 500 fell 0.2% to 6,814.3 and the Dow Jones Industrial Average slid 0.6% to 47,881.5. Technology and materials were among the gainers, while consumer staples, health care, and financials led the decliners.A key aim of the Iran peace talks in Islamabad is to fully reopen the Strait of Hormuz, where President Donald Trump said Thursday that Iran is "doing a very poor job" of letting crude oil pass and cautioned against collecting tolls in the strategic waterway, the report said.Iran's parliament speaker, Mohammad Bagher Ghalibaf, said talks cannot start until the US meets two conditions: a ceasefire in Lebanon and the release of blocked Iranian assets.Vice President JD Vance, setting off for US-Iran talks in Pakistan's capital Islamabad, said Washington is "willing to extend the open hand" in this weekend's negotiations but warned Tehran not to "try to play us," The Wall Street Journal said.Ambassadors from Israel, Lebanon, and the US will hold talks in Washington, DC, on Friday to set the table for future negotiations between Israel and Lebanon, an Israeli official and a source familiar with the talks told CNN. The initial discussions will target an agreement on the agenda for direct negotiations, which Israel said would be aimed at disarming Hezbollah and establishing "peaceful relations" between the two countries.West Texas Intermediate crude oil futures advanced 1% to $98.92, and Brent crude futures climbed 1.3% to $97.08.In economic news, US consumer inflation accelerated to its highest monthly reading in nearly four years in March as the Middle East conflict sent energy prices sharply higher.The consumer price index advanced 0.9% last month, its strongest pace of growth since June 2022, the Bureau of Labor Statistics reported Friday. The latest print met a Bloomberg-polled consensus view. Prices rose 0.3% in February. Annually, inflation grew to 3.3% from February's 2.4% rise, falling short of Wall Street's 3.4% projection.Energy price growth jumped about 11% sequentially in March, led by a 21% surge in gasoline, accounting for nearly three-quarters of the headline increase, official data showed.US Treasury yields rose, with the 10-year up 2.6 basis points to 4.32% and the two-year climbed 2.5 basis points to 3.81%."The fallout of the US/Israel-Iran war was evident in the March consumer price index," Oxford Economics Lead US Economist Bernard Yaros said in remarks emailed to.In company news, Barclays adjusted its price target for Fair Isaac's (FICO) shares to $1,950 from $2,400 while maintaining its overweight rating. The stock traded down 14% intraday, among the steepest decliners on the SP 500.In precious metals, gold futures fell 0.7% to $4,784.9 and silver futures slipped 0.3% to $76.22.

Dow JonesNasdaq CompositeS&P 500$FICO
Japan

US Equity Indexes Mixed as Fragile Iran Truce Holds, Hot Inflation Print In Line With Outlook

US equity indexes were mixed in midday trading Friday as a fragile Iran ceasefire deal looked set to hold until peace talks kick off in Pakistan, while a red-hot inflation read was in line with market expectations.The Nasdaq Composite rose 0.4% to 22,913.3, while the S&P 500 was slightly down at 6,823.6 and the Dow Jones Industrial Average slipped 0.4% to 47,979.1.Vice President JD Vance, setting off for US-Iran talks in Pakistan's capital Islamabad, said Washington is "willing to extend the open hand" in this weekend's negotiations but warned Tehran not to "try to play us," The Wall Street Journal said.A key aim of the talks is to fully reopen the Strait of Hormuz, where President Donald Trump said Thursday that Iran is "doing a very poor job" of letting oil flow through and cautioned the country against collecting tolls from ships traveling through the strategic waterway, the report said.West Texas Intermediate crude oil futures advanced 0.9% to $98.82. Brent crude futures were little changed at $95.67.In economic news, the US consumer price index accelerated to its highest monthly reading in nearly four years, rising 0.9% in March but in line with expectations, as the Middle East conflict sent energy prices sharply higher. Energy prices jumped about 11% sequentially in March, led by a 21% surge in gasoline, accounting for nearly three-quarters of the headline increase, the Bureau of Labor Statistics data showed.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Amid Lingering Geopolitical Uncertainty, CPI Focus

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Friday's premarket activity amid lingering geopolitical uncertainty and the release of consumer inflation data.US stock futures were mixed, with S&P 500 Index futures up 0.03%, Dow Jones Industrial Average futures slipping 0.04%, and Nasdaq futures gaining 0.1% before the start of regular trading.US consumer prices rose 0.9% in March, in line with expectations, compared with a 0.3% gain in the prior month.The University of Michigan's preliminary consumer sentiment index for April and the factory orders data for February are due to be released at 10 am ET.In premarket activity, bitcoin was up by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.3% higher, Ether ETF (EETH) advanced 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.3%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated marginally by 0.01%, the Vanguard Health Care Index Fund (VHT) was up 0.8%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) slipped 0.4%.Telix Pharmaceuticals (TLX) stock was up more than 9% premarket after the company said the US Food and Drug Administration accepted its resubmitted new drug application for its investigational glioma imaging agent Pixclara.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was flat and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.8%. The iShares US Consumer Staples ETF (IYK) advanced 0.4%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.4%.Shake Shack (SHAK) shares were up more than 3% pre-bell after Mizuho upgraded the company's stock to outperform from neutral and lifted its price target to $120 from $100.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.6%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% higher.SLM (SLM) shares were up more than 2% pre-bell. RBC cut the company's price target to $28 from $32 while maintaining its outperform rating.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 0.2%, and the iShares US Technology ETF (IYW) was 0.2% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.01%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 0.7% higher, while the iShares Semiconductor ETF (SOXX) rose by 0.7%.Taiwan Semiconductor Manufacturing (TSM) shares were up more than 2% in premarket activity after the company reported higher Q1 net revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, while the Vanguard Industrials Index Fund (VIS) gained 0.3% and the iShares US Industrials ETF (IYJ) was inactive.A. O. Smith Corporation (AOS) stock was up more than 1% before the opening bell after Goldman Sachs raised its price target to $61 from $69.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.2%.Eni (E) stock was up nearly 1% before Friday's opening bell after the company said it has invested $70 million in Nouveau Monde Graphite (NMG). Nouveau stock was down 9%.CommoditiesFront-month US West Texas Intermediate crude oil gained 0.1% to reach $97.95 per barrel on the New York Mercantile Exchange. Natural gas retreated by 1.5% to $2.63 per 1 million British Thermal Units. The United States Oil Fund (USO) was down by 1.8%, while the United States Natural Gas Fund (UNG) was 1.2% lower.Gold futures for May were down by 0.6% at $4,790.50 an ounce on the Comex. Silver futures declined by 0.9% to $75.76 an ounce. SPDR Gold Shares (GLD) was 0.01% higher, and the iShares Silver Trust (SLV) advanced by 0.3%.

Dow JonesNasdaq CompositeS&P 500$AOS$BETH$BITO$E$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NMG$PMR$QQQ$RTH$SHAK$SLM$SLV$SOXX$SPY$TLX$TSM$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

US Equity Futures Flat Pre-Bell as Traders Track Developments in Fragile US-Iran Ceasefire

US equity futures were flat pre-bell Friday as traders were wary of the fragile two-week ceasefire between the US and Iran.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.3% higher.The Strait of Hormuz remains shut, while Israel continues to exchange fire with Hezbollah in Lebanon, even with the US-Iran talks scheduled on Saturday morning in Islamabad. Israel has said it would start talks with the Lebanese government targeting to disarm Hezbollah and end attacks in the nation.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.5% at $95.42 per barrel and US West Texas Intermediate crude 0.5% lower at $97.42 per barrel.The March consumer price index, released at 8:30 am ET, gained 0.9% as expected, compared with a 0.3% increase in the previous month, according to estimates compiled by Bloomberg. The University of Michigan consumer sentiment index for April is expected at 51.5%, down from 53.3% previously, and the February factory orders are expected to have declined 0.2% following an increase of 0.1% in January. The two reports are scheduled for 10 am ET.In other world markets, Japan's Nikkei closed 1.8% higher, Hong Kong's Hang Seng ended 0.6% higher, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was up 0.8% in Europe's early afternoon session.In equities, Taiwan Semiconductor Manufacturing (TSM) shares were up 2.3% after the company reported higher Q1 net revenue. Marvell Technology (MRVL) shares were 3.5% higher after Barclays upgraded the company's stock to overweight from equalweight.On the losing side, ServiceNow (NOW) shares were down 1.6% after the company said it is shifting its entire product portfolio from artificial intelligence sidecars to full AI integration. UBS also downgraded the company's stock to neutral from buy.

Dow JonesNasdaq CompositeS&P 500$MRVL$NOW$TSM
Japan

US Equity Futures Flat Pre-Bell as Fragile US-Iran Ceasefire Causes Wariness Among Traders

US equity futures were flat pre-bell on Friday as traders were wary of the fragile two-week ceasefire between the US and Iran.Dow Jones Industrial Average futures were flat, S&P 500 futures were up 0.1%, while Nasdaq futures were 0.2% higher.The Strait of Hormuz remains shut, while Israel continues to exchange fire with Hezbollah in Lebanon, even with the US-Iran talks scheduled on Saturday morning in Islamabad. Israel has said it would start talks with the Lebanese government targeting to disarm Hezbollah and end attacks in the nation.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.1% at $95.99 per barrel and US West Texas Intermediate crude 0.2% higher at $98.06 per barrel.The March consumer price index, scheduled for release at 8:30 am ET, is seen coming in at 0.9% for February, compared with 0.3% reading in January, according to estimates compiled by Bloomberg. Meanwhile, the University of Michigan consumer sentiment for April is expected at 51.5%, down from 53.3% previously, and the February factory orders release is seen coming at negative 0.2%, compared with 0.1% previously.The two reports are scheduled at 10 am ET.

Dow JonesNasdaq CompositeS&P 500
US Markets

Stocks Mostly Down Pre-Bell as US-Iran Talks Loom; Consumer Inflation Report on Deck

The main US stock measures were mostly tracking in the red before the open Friday as traders await talks between US and Iranian officials and a key report on consumer inflation.The S&P 500 and the Dow Jones Industrial Average edged down 0.1% each in premarket activity, while the Nasdaq was up less than 0.1%. The indexes finished the previous trading session higher, with the S&P 500 and the Nasdaq recording their seventh straight day of gains.Officials from the US and Iran are expected to meet on Saturday in Pakistan, which helped broker the truce between the two countries earlier in the week.Israeli Prime Minister Benjamin Netanyahu said the country would negotiate with Lebanon on disarming Hezbollah, CNN reported Thursday. Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, previously called Israel's continued attacks on Lebanon a violation of the ceasefire agreement between Washington and Tehran.In a social media post on Thursday, President Donald Trump said Iran was "doing a very poor job" of allowing oil to go through the Strait of Hormuz. "That is not the agreement we have," Trump said.Iranian state media reported that transit through the strait was halted following Israeli strikes on Lebanon.West Texas Intermediate crude oil nudged 0.2% higher to $98.02 a barrel before the opening bell, while Brent ticked up 0.1% to $95.97. "With a full reopening of the strait unlikely in the near term, oil prices are expected to remain supported, as disruptions linked to reduced output and refinery shutdowns will take time to unwind," ING Bank said in a note on Thursday.The consumer price index report for March is scheduled for an 8:30 am ET release. Official data are expected to show that consumer inflation accelerated 0.9% and 3.4% on sequential and annual bases last month, according to a Bloomberg-compiled consensus.Treasury yields were down in premarket action, with the two-year rate retreating 0.2 basis points to 3.78% and the 10-year rate off 0.4 basis points to 4.29%.Government data on Thursday showed that inflation accelerated sequentially in February as real consumer spending edged higher, with analysts expecting price pressures to intensify due to the spillover effects of the Middle East conflict.The US economy expanded at a slower rate in the fourth quarter than previously projected, as consumer spending growth decelerated, according to the Bureau of Economic Analysis' third estimate.Minutes from the Federal Reserve's March meeting showed earlier in the week that participants emphasized the need for the central bank to be "nimble" in adjusting monetary policy amid heightened macro risks.Friday's economic calendar also has the preliminary University of Michigan consumer sentiment report for April at 10 am, while the weekly Baker Hughes oil-and-gas rig count is out at 1 pm.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares gained 2% pre-bell after the chipmaker disclosed a year-over-year increase in its first-quarter revenue. Snowflake (SNOW) rebounded 0.2% following a 12% drop at the close of the previous trading session.Gold declined 0.8% to $4,779 per troy ounce, while bitcoin slipped 0.2% to $71,920.

Dow JonesNasdaq CompositeS&P 500$SNOW$TSM
International

Uncertain Ceasefire View Caps Wall Street Pre-Bell; Asia, Europe Up

Wall Street futures wavered pre-bell Friday as traders awaited US-Iran ceasefire negotiations, slated to start Saturday in Pakistan.In the futures, the S&P 500 was steady, the Nasdaq inclined 0.1% and the Dow Jones was off 0.1%.West Texas Intermediate crude oil futures tracked in a relatively tight range, just under $98 a barrel.Investors also await the March consumer price index (CPI) report from Washington, due at 8:30 am ET, and sure to be parsed for clues of building inflationary pressures in the US economy.Asian exchanges traded mostly higher overnight, while European bourses tracked north midday on the continent, on Middle East ceasefire prospects.On the economic calendar, in addition to the CPI bulletin, is the University of Michigan consumer sentiment report for April, and the February factory orders release, at 10 am ET.The weekly Baker Hughes domestic oil-and-gas rig count logs at 1 pm.In pre-market action, bitcoin traded at $71,755, and 10-year US Treasuries offered 4.29%. Spot gold commanded $4,758 an ounce.

Dow JonesNasdaq CompositeS&P 500
US Markets

Nasdaq, S&P 500 Extend Winning Streak as Truce Remains Intact

The Nasdaq Composite and the S&P 500 posted their seventh straight day of gains as a two-week ceasefire between the US and Iran appeared to remain on track.The Nasdaq closed 0.8% higher at 22,822.4, its highest close since Feb. 26 -- two days before the US-Israel war with Iran started. The S&P 500 climbed 0.6% to 6,824.7.The Dow Jones Industrial Average added 0.6% to settle at 48,185.8, advancing for a second consecutive session.Barring energy and health care, all sectors were in the green, led by consumer discretionary's 2.5% rise.Officials from Washington and Tehran are expected to meet this weekend in Pakistan, which helped broker the truce.Israeli Prime Minister Benjamin Netanyahu said the country would negotiate with Lebanon on disarming Hezbollah, CNN reported Thursday. Iranian state media previously reported that transit through the Strait of Hormuz was halted following Israeli attacks on Lebanon.Oil prices jumped, with West Texas Intermediate crude last up 4.9% at $99.06 per barrel. The benchmark hit up to $102.70 per barrel earlier in the session as shipment activity through the Strait of Hormuz remained restricted. Brent crude climbed 2.4% to $96.99 per barrel.The rebound in oil prices follows the sharpest one-day pullback since 2020 in the previous session following the ceasefire announcement."With a full reopening of the strait unlikely in the near term, oil prices are expected to remain supported, as disruptions linked to reduced output and refinery shutdowns will take time to unwind," ING Bank said in a note.US Treasury yields were declining, with the 10-year rate down 1.5 basis points at 4.29% and the two-year rate falling 2.1 basis points at 3.77%.In economic news, US inflation accelerated sequentially in February as real consumer spending edged higher, with analysts expecting price pressures to intensify due to the spillover effects of the Middle East conflict.The Federal Reserve's preferred inflation metric -- which excludes food and energy -- rose 0.4% month over month, unchanged from January's reading. Annual growth slowed to 3% from 3.1%. All inflation prints met estimates in Bloomberg-compiled surveys."With headline inflation likely to test 4% soon, there is little chance the Fed will ease policy in the near term," BMO Capital Markets said in a note.The US economy expanded at a slower rate in the fourth quarter than previously projected, as consumer spending growth decelerated, the Bureau of Economic Analysis' third estimate showed Thursday."The downward revision to (fourth-quarter) GDP is not a major concern, as it was driven by the volatile inventory component," Oxford Economics Chief US Economist Michael Pearce said in remarks e-mailed to. "Gross domestic income -- a better gauge of underlying activity -- and gross domestic output of private business showed the core of the economy was still expanding at a healthy pace at the end of last year."In company news, CoreWeave (CRWV) agreed to supply artificial intelligence cloud capacity to Meta Platforms (META) in a $21 billion deal as the companies expanded their partnership amid robust demand for infrastructure supporting AI workloads. CoreWeave shares rose 3.5%, while Meta gained 2.6%.Ares Management (ARES) agreed to acquire and take private Whitestone REIT (WSR) in an all-cash deal worth about $1.7 billion. Whitestone shares jumped nearly 12%, while Ares was virtually flat.Brown-Forman (BF.A, BF.B) was approached by Sazerac about a potential transaction amid ongoing discussions with French spirits company Pernod Ricard, The Wall Street Journal reported Thursday, citing people familiar with the matter. The company's class B shares surged nearly 13%, the top gainer on the S&P 500, while its A shares soared 11%.Chevron (CVX) said it expected higher commodity prices driven by the Middle East conflict to boost first-quarter earnings in its upstream segment by up to $2.2 billion, though timing impacts could weigh on the oil giant's bottom line. The company's shares fell 1.3%, among the worst performers on the Dow.Gold was last up 0.4% at $4,795.80 per troy ounce, while silver advanced 0.6% to $76.84 per ounce.

Dow JonesNasdaq CompositeS&P 500$ARES$BF.A$BF.B$CRWV$CVX$META$WSR
Asia Markets

US Equity Indexes Extend Iran Ceasefire Gains as Truce Likely to Hold Until Talks in Pakistan

US equity indexes rose on Thursday while crude oil futures pared gains amid expectations that a Pakistan-brokered ceasefire deal with Iran will hold until further negotiations in Islamabad to end the war.The Nasdaq Composite rose 0.8% to 22,822.42, with the S&P 500 up 0.6% to 6,824.66 and the Dow Jones Industrial Average higher by 0.6% to 48,185.80, extending gains following a strong rally on Wednesday.The UK's ITV network reported that Iran's Deputy Foreign Minister Saeed Khatibzadeh said the Strait of Hormuz is open. Any civilian vessel can pass with guidance from the Iranian authorities, Khatibzadeh told ITV. "Anybody who communicates with the Iranian authority has permission to pass."Eight ships crossed Hormuz on Thursday, below the usual 135 daily transits, The Wall Street Journal reported.The two-week truce appears to be holding up as fewer strikes were reported across the Middle East on Thursday, CNN reported. Israel's attacks on Lebanon killed more than 250 people while injuring hundreds on Wednesday, according to Reuters.Further, Netanyahu's plan for talks with Lebanon to disarm the militant group reportedly fighting as Iran's proxy addressed concerns raised by Iranian President Masoud Pezeshkian. Tel Aviv's strikes on Lebanon violated the truce deal and, more importantly, would render the upcoming US-Iran peace negotiations in Islamabad meaningless, Reuters cited Pezeshkian as saying.Netanyahu said Israel is planning direct negotiations with Lebanon to establish peaceful relations, but added there is no ceasefire while talks are being pursued, CNN reported.Vice President JD Vance will lead US negotiators in talks with Iran in Islamabad on Saturday, according to media reports. Trump reportedly told NBC News that he was "very optimistic" about reaching a peace deal with Iran, but warned that "if they don't make a deal, it's going to be very painful."West Texas Intermediate crude oil futures were up 4.7% to $98.88, after surging more than 7% higher earlier in the session. Brent crude futures rose 2.4% to $97.01, after climbing almost 5% intraday.Most US Treasury yields fell, with the two-year declining 1.5 basis points to 3.78%. The 10-year was little changed at 4.28%.In economic news, the personal consumption expenditures price index rose by 0.4%, and as expected, the year-over-year rate remained at 2.8%. The price index increased by 0.3% month-over-month in January.The core PCE price index increased by 0.4%, as expected, and the same as in January. The year-over-year rate dropped to 3% from 3.1% in the previous month.US economic growth, measured by gross domestic product, was revised lower to a 0.5% increase in Q4 from a 0.7% gain in the second estimate, compared with estimates for no revision in a survey compiled by Bloomberg.US initial jobless claims rose to 219,000 in the week ended April 4 from an upwardly revised 203,000 in the previous week, compared with expectations for 210,000 in a Bloomberg-compiled poll.In precious metals, gold futures rose 0.4% to $4,794.4 and silver futures climbed 0.5% to $75.79.

Dow JonesNasdaq CompositeS&P 500
US Markets

Equities Rise Intraday as US-Iran Ceasefire Holds Amid Hormuz Uncertainty

US benchmark equity indexes were higher intraday as a recent two-week ceasefire between Washington and Iran appeared to be holding, though oil prices rebounded as access to the Strait of Hormuz remained restricted.The Dow Jones Industrial Average and the Nasdaq Composite were up 0.8% each at 48,279.5 and 22,811.7, respectively, after midday Thursday. The S&P 500 added 0.7% to 6,829. Barring energy, all sectors were in the green, led by consumer discretionary.West Texas Intermediate crude was up 2.3% at $96.54 a barrel intraday. The benchmark hit up to $102.70 a barrel earlier in the session. Brent crude edged up 0.6% to $94.96 per barrel.The rebound in oil prices follows the sharpest one-day pullback since 2020 in the previous session as the US and Iran agreed to temporarily halt hostilities that had gripped the Middle East since the end of February."The Strait of Hormuz is not open," Abu Dhabi National Oil Chief Executive Sultan Al Jaber said in a LinkedIn post Thursday. "Access is being restricted, conditioned and controlled."Iranian state media previously reported that transit through the strait was halted following Israeli attacks on Lebanon. Israeli Prime Minister Benjamin Netanyahu said the country would negotiate with Lebanon on disarming Hezbollah, CNN reported Thursday."We continue to contend that actual transit levels through the waterway will remain significantly depressed given that Iran is insisting vessels must coordinate with its military or face destruction," RBC Capital Markets said in a note.Officials from Washington and Tehran are expected to meet this weekend in Pakistan, which helped broker the truce.US Treasury yields were lower intraday, with the 10-year rate down two basis points at 4.27% and the two-year rate dropping 3.4 basis points to 3.76%.In economic news, US inflation accelerated sequentially in February as real consumer spending edged higher, with analysts expecting price pressures to intensify due to the spillover effects of the Middle East conflict.The Federal Reserve's preferred inflation metric -- which excludes food and energy -- rose 0.4% month over month, unchanged from January's reading. Annual growth slowed to 3% from 3.1%. All inflation prints met estimates in Bloomberg-compiled surveys."With headline inflation likely to test 4% soon, there is little chance the Fed will ease policy in the near term," BMO Capital Markets said in a note.Weekly applications for unemployment insurance in the US rose more than expected, while continuing claims reached the lowest level since May 2024, government data showed."The latest jobless claims data offer no evidence that the (US-Israel) war with Iran has had a notable impact on the labor market," Oxford Economics said in a note. "We don't think an upside surprise in one week is sending a signal that labor market conditions are softening."In company news, CoreWeave (CRWV) agreed to supply artificial intelligence cloud capacity to Meta Platforms (META) in a $21 billion deal as the companies expanded their partnership amid robust demand for infrastructure supporting AI workloads. CoreWeave shares were up 6.1% intraday, while Meta rose 3%.Ares Management (ARES) agreed to acquire and take private Whitestone REIT (WSR) in an all-cash deal worth about $1.7 billion. Whitestone shares jumped 11%, while Ares advanced 0.5%.Chevron (CVX) said it expected higher commodity prices driven by the Middle East conflict to boost first-quarter earnings in its upstream segment by up to $2.2 billion, though timing impacts could weigh on the oil giant's bottom line. The company's shares were down 1.4% intraday, among the worst performers on the Dow.Gold was up 0.9% at $4,819 per troy ounce, while silver advanced 1.5% to $76.49 per ounce.

Dow JonesNasdaq CompositeS&P 500$ARES$CRWV$CVX$META$WSR
Asia Markets

US Equity Indexes Rise Amid Reports of Hormuz Opening, Israel's Plans to Talk With Lebanon

US equity indexes rose after midday Thursday amid media reports that the Strait of Hormuz is open and Israel's Prime Minister Benjamin Netanyahu said Tel Aviv will begin direct talks with Lebanon to disarm Hezbollah.The Nasdaq Composite rose 0.8% to 22,815.1, with the S&P 500 up 0.7% to 6,830.9 and the Dow Jones Industrial Average higher by 0.8% to 48,308.4, after staging a strong rally on Wednesday. All sectors except energy and healthcare rose intraday, while consumer discretionary, utilities, and real estate led the gainers.All three mainstream indexes had opened lower on Thursday, reflecting Israel's attacks on Lebanon on Wednesday that, according to Reuters, killed more than 250 people. However, after midday, the equity gauges turned the corner.This comes as the UK's ITV reported that Iran's Deputy Foreign Minister Saeed Khatibzadeh said the Strait of Hormuz is open. Any civilian vessel can pass with guidance from the Iranian authorities, Khatibzadeh told ITV.Meanwhile, CNN reported that the two-week ceasefire appeared to be on track, with fewer attacks reported across the Middle East on Thursday.Further, Netanyahu's proposal, as per the CNN report, to begin talks with Lebanon to disarm Hezbollah, a militant group reportedly fighting as Iran's proxy, addressed concerns raised by Iranian President Masoud Pezeshkian. Tel Aviv's strikes on Lebanon on Wednesday violated the truce deal and, more importantly, would render the upcoming US-Iran peace negotiations in Islamabad meaningless, Reuters cited Pezeshkian as saying.West Texas Intermediate crude oil futures advanced 2.2% to $96.52, after trading more than 7% higher earlier in the session. Brent crude futures rose 0.4% to $95.07, after climbing almost 5% intraday.US Treasury yields fell, with the 10-year down 2.6 basis points to 4.27%. The two-year rate dropped 3.6 basis points to 3.76%.In precious metals, gold futures rose 0.9% to $4,821.1 and silver futures climbed 1.5% to $76.54.In economic news, the personal consumption expenditures price index rose by 0.4%, and as expected, the year-over-year rate remained at 2.8%. The price index increased by 0.3% month-over-month in January.The core PCE price index increased by 0.4%, as expected, and the same as in January. The year-over-year rate dropped to 3% from 3.1% in the previous month.US economic growth, measured by gross domestic product, was revised lower to a 0.5% increase in Q4 from a 0.7% gain in the second estimate, compared with estimates for no revision in a survey compiled by Bloomberg.US initial jobless claims rose to 219,000 in the week ended April 4 from an upwardly revised 203,000 in the previous week, compared with expectations for 210,000 in a Bloomberg-compiled poll.In company news, CoreWeave (CRWV) said it signed an agreement with Meta Platforms (META) to provide artificial intelligence cloud capacity through December 2032 for about $21 billion. Shares of CoreWeave and Meta were up 6.5% and 3.1%, respectively.

Dow JonesNasdaq CompositeS&P 500$CRWV$META
Asia Markets

Exchange-Traded Funds Edge Higher as US Equities Rise After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV advanced. Actively traded Invesco QQQ Trust (QQQ) was up 0.4%.US equity indexes rose in midday trading on Thursday as a fragile Iran ceasefire deal brokered by Pakistan appears to be largely holding.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each dropped about 1.1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) slipped 0.3%; iShares US Technology ETF (IYW) was 0.2% lower, while iShares Expanded Tech Sector ETF (IGM) fell 0.2%.The State Street SPDR S&P Semiconductor (XSD) advanced 0.8%, and iShares Semiconductor (SOXX) was up 1.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) gained 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) climbed up 1.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 1.4%.CommoditiesCrude oil rose 3.5%, and the United States Oil Fund (USO) added 0.2%. Natural gas fell 2.1%, and the United States Natural Gas Fund (UNG) was down 2.2%.Gold on Comex was up 0.7%, and the State Street SPDR Gold Shares (GLD) gained 1.2%. Silver rose 1.1%, and iShares Silver Trust (SLV) was 2% higher.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.8%. The Vanguard Consumer Staples ETF (VDC) added 0.9%, and iShares Dow Jones US Consumer Goods (IYK) was 0.8% higher.The State Street Consumer Discretionary Select Sector SPDR (XLY) advanced 1.5%. VanEck Retail ETF (RTH) added 1.5%, while the State Street SPDR S&P Retail (XRT) was up 0.8%.Health CareThe State Street Health Care Select Sector SPDR (XLV) rose 0.1%, and iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) also edged higher. IShares Biotechnology ETF (IBB) added 0.3%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) climbed 1.4%. Vanguard Industrials Index Fund (VIS) rose 1.3%, and iShares US Industrials (IYJ) was up 0.8%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) rose 0.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) added 1%, ProShares Ether ETF (EETH) gained 0.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was up 0.6%.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH
Asia Markets

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Thursday as Fragile Middle East Ceasefire Lifts Oil Prices

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% lower in Thursday's premarket activity as doubts over the durability of a Middle East ceasefire lift oil prices.US stock futures were also lower, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.5%, and Nasdaq futures retreating 0.4% before the start of regular trading.US initial jobless claims rose to a level of 219,000 in the week ended April 4 from an upwardly revised 203,000 level in the previous week, compared with expectations for a smaller increase to 210,000 in survey of analysts compiled by Bloomberg.Personal income declined 0.1% in February following January's 0.4% gain, compared with the expected 0.3% gain in a survey conducted by Bloomberg as of 7:35 am ET.US economic growth, measured by gross domestic product, was revised lower to a 0.5% increase in Q4 from a 0.7% gain in the second estimate, compared with estimates for no revision in a survey compiled by Bloomberg as of 7:35 am ET.Wholesale inventory data for February are due to be released at 10 am ET, followed by weekly natural gas stocks data at 10:30 am ET.In premarket activity, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower, Ether ETF (EETH) fell 1.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) retreated marginally by 0.01%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.01% higher, and the iShares US Consumer Staples ETF (IYK) was up 0.5%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 1.3% lower.Simply Good Foods (SMPL) shares were down more than 19% pre-bell after the company posted lower fiscal Q2 adjusted earnings and net sales.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.9% higher.Whitestone REIT (WSR) shares were up more than 11% pre-bell after the company said it has agreed to be acquired by Ares Management (ARES) for $19 per common share or operating partnership unit in an all-cash deal valued at about $1.70 billion. Ares stock was 1.5% higher.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.2%, and the iShares US Technology ETF (IYW) was 0.1% higher, while the iShares Expanded Tech Sector ETF (IGM) was down 0.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) declined by 0.3%.Aehr Test Systems (AEHR) shares were down more than 2% in premarket activity, a day after the company said it plans to sell up to $60 million of its common shares via an at-the-market offering.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 0.7% lower.Novartis (NVS) stock was down more than 1% premarket after closing the prior session with a 2% gain. The company said Thursday it will expand its programs to find and treat patients with heart disease and cancer in "hard-to-reach" communities worldwide.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) declined by 0.7%, while the Vanguard Industrials Index Fund (VIS) gained 0.4% and the iShares US Industrials ETF (IYJ) was down 0.8%.American Airlines Group (AAL) stock was down more than 1% before the opening bell, a day after the Federal Aviation Administration said the airline should pay a $255,000 civil penalty for allegedly breaching drug and alcohol regulations.EnergyThe iShares US Energy ETF (IYE) was up 0.2%, while the State Street Energy Select Sector SPDR ETF (XLE) advanced by 0.5%.Occidental Petroleum (OXY) stock was up more than 1% before Thursday's opening bell after the company said it had discovered oil at the Bandit prospect, co-owned by Chevron (CVX) and Woodside Energy (WDS), in the Gulf of Mexico. Chevron stock was 0.8% higher, while Woodside advanced 0.5%.CommoditiesFront-month US West Texas Intermediate crude oil rose by 4.4% to $98.57 per barrel on the New York Mercantile Exchange. Natural gas retreated by 0.2% to $2.72 per 1 million British Thermal Units. The United States Oil Fund (USO) was up by 2%, while the United States Natural Gas Fund (UNG) was 0.3% lower.Gold futures for May were up by 0.1% at $4,781.00 an ounce on the Comex. Silver futures declined by 1% to $74.60 an ounce. SPDR Gold Shares (GLD) was 0.4% higher, and the iShares Silver Trust (SLV) advanced by 0.03%.

Dow JonesNasdaq CompositeS&P 500$AAL$AEHR$ARES$BETH$BITO$CVX$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVS$OXY$PMR$QQQ$RTH$SLV$SMPL$SOXX$SPY$UNG$USO$VDC$VHT$VIS$WDS$WSR$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

Alleged Ceasefire Violations in Middle East, Shipping Halt in Strait of Hormuz Dampen US Equity Futures Pre-Bell

US equity futures were lower pre-bell Thursday after Iran accused the US of violating the two-week ceasefire agreement between the two nations announced on late Tuesday and halted shipping through the Strait of Hormuz after Israel's attack on Lebanon.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.2% lower.Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, said that the violations of the ceasefire agreement include Israel's continued attacks on Lebanon, drone incursions into Iran, and the denial of Iran's right to enrich uranium. The White House has said that Lebanon is not part of the agreement.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3% at $97.59 per barrel and US West Texas Intermediate crude 4.5% higher at $98.62 per barrel.The February core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, gained 0.4%, matching the prior month's increase and meeting estimates compiled by Bloomberg. Initial jobless claims increased to 219,000 in the week ended April 4 from 203,000 in the previous week, compared with expectations for an increase to 210,000. Q4 GDP growth was revised down to a 0.5% annual rate from 0.7% previously, compared with expectations for no change.In other world markets, Japan's Nikkei closed 0.7% lower, Hong Kong's Hang Seng ended 0.5% lower, and China's Shanghai Composite finished 0.7% lower. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was down 1.1% in Europe's early afternoon session.In equities, Novo Nordisk (NVO) stock was down 1.4% after Bloomberg reported that the company's therapy semaglutide is facing pressure in India due to an increase in generic versions of the drug.On the winning side, TotalEnergies (TTE) shares were up 2.7% after multiple media outlets reported that the oil company was included in exemptions from Brazil's newly-enacted 12% export tax.

Dow JonesNasdaq CompositeS&P 500$NVO$TTE
US Markets

Stocks Decline Pre-Bell Amid Uncertainty Over US-Iran Truce; Key Inflation Report on Deck

US equity markets were trending lower before the opening bell Thursday as investors assess uncertainty over the recent two-week ceasefire deal between the US and Iran, and await a key inflation report.The S&P 500 and the Dow Jones Industrial Average declined 0.3% each in premarket activity, while the Nasdaq was off 0.2%. The indexes finished Wednesday's trading in the green, recording their highest close in at least four weeks.In a Wednesday post on X, Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, said the US violated three clauses of Tehran's 10-point ceasefire proposal. The violations include Israel's attacks on Lebanon, the entry of a drone into Iranian airspace and the denial of Tehran's right to enrich uranium, according to Ghalibaf."The deep historical distrust we hold toward the (US) stems from its repeated violations of all forms of commitments - a pattern that has regrettably been repeated once again," Ghalibaf said. "In such situation, a bilateral ceasefire or negotiations is unreasonable."In a late Wednesday post on Truth Social, President Donald Trump said US ships, aircraft and military personnel will "remain in and around Iran" until the "real agreement reached is fully complied with.""It was agreed, a long time ago, and despite all of the fake rhetoric to the contrary - no nuclear weapons and, the Strait of Hormuz will be open and safe," according to Trump.On Tuesday, Trump announced that he agreed to suspend attacks on Iran for a period of two weeks, subject to Tehran agreeing to the complete and safe opening of the strait, the world's most important chokepoint for crude flows. Iranian Foreign Minister Seyed Abbas Araghchi had said in a statement that the country will allow "safe passage" through the strait during the two-week ceasefire through coordination with its armed forces and "with due consideration of technical limitations."Delegations from both countries are scheduled to meet in Islamabad, Pakistan on Friday to negotiate a "conclusive agreement to settle all disputes," Pakistani Prime Minister Shehbaz Sharif said Tuesday.West Texas Intermediate crude oil rose 3.5% to $97.70 a barrel before the open, while Brent increased 3.3% to $97.87."The headlines may calm down first, but the real reset depends on what happens in the days ahead," Charu Chanana, chief investment strategist at Saxo Bank, said in a report Wednesday.The delayed personal income and outlays report for February is scheduled to be released at 8:30 am ET. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric.Minutes from the Federal Reserve's March meeting showed Wednesday that participants emphasized the need for the central bank to be "nimble" in adjusting monetary policy amid heightened macro risks. Most policymakers were concerned that a prolonged war could soften labor market conditions, possibly warranting policy easing, according to the minutes. However, persistent inflation amid higher oil prices could call for rate increases.Markets widely expect the Fed to keep its benchmark lending rate steady at its next policy meeting later in April, according to the CME FedWatch tool.Treasury yields were down in premarket action, with the two-year rate retreating 0.5 basis points to 3.79% and the 10-year rate off 0.4 basis points to 4.29%.Thursday's economic calendar also has the delayed final estimate report for the fourth-quarter gross domestic product at 8:30 am, as well as the weekly jobless claims report.Shares of Constellation Brands (STZ) declined 0.9% pre-bell after the beer and wine company issued a full-year earnings outlook below Wall Street's estimates.Neogen (NEOG), BlackBerry (BB) and Simply Good Foods (SMPL) report their latest financial results before the bell, among others. WD-40 (WDFC) posts its earnings after the markets close.Gold sipped 0.5% to $4,752 per troy ounce, while bitcoin nudged up 0.2% to $71,399.

Dow JonesNasdaq CompositeS&P 500$BB$NEOG$SMPL$STZ$WDFC
Asia Markets

Oil, Ceasefire Views Damp Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed moderately lower pre-bell Thursday, as traders weighed rising oil prices and sought clarity on Persian Gulf war outlooks.The Strait of Hormuz apparently remained closed to the vast majority of oil tanker traffic early Thursday.In the futures, the S&P 500 fell 0.4%, the Nasdaq declined 0.4% and the Dow Jones was off 0.4%.West Texas Intermediate crude oil traded higher at $99.35, up 5.2% in morning trades.Investors also await the personal consumption expenditures-core (PCE-core) price index for February, slated for release in Washington at 8:30 am ET. The Federal Reserve's preferred inflation metric may provide clues to price pressures, but before the Middle East turmoils of March.Asian exchanges traded mostly lower overnight, while European bourses tracked moderately south midday on the continent.On the economic calendar, in addition to the PCE-core report, is the revised Q4 GDP bulletin, the weekly jobless claims bulletin, the February personal income and outlays report, and the Q4 corporate profit release, all at 8:30 am ET.In premarket action, Bitcoin traded at $71,431 and 10-year US Treasuries offered 4.28%. Spot gold commanded $4,740 an ounce.

Dow JonesNasdaq CompositeS&P 500
US Markets

Equities Mark Best Finish in At Least 4 Weeks Following US-Iran Truce

Equities on Wall Street rallied Wednesday, driving key indexes to their highest close in at least four weeks, as oil prices slid following a two-week ceasefire between the US and Iran.The Dow Jones Industrial Average increased 2.9% to 47,909.9, the highest close since March 5, while the Nasdaq Composite jumped 2.8% to 22,635, its best finish since March 11.The S&P 500 advanced 2.5% to 6,782.8, marking the highest closing level since March 9.Barring energy's 3.7% decline, all sectors ended in the green, led by industrials' 3.8% advance.West Texas Intermediate crude oil was last down nearly 15% at $96.44 a barrel, while Brent futures tumbled about 12% to $96.40 -- though both benchmarks remained well above pre-conflict levels.US President Donald Trump, who had set an 8 pm ET, Tuesday, deadline for Tehran to fully reopen the Strait of Hormuz, agreed to suspend planned attacks on Iran for two weeks upon Pakistan's request. Tehran said it would allow "safe passage" through the key trading route, subject to coordination with Iranian authorities.However, reports about ceasefire violations signified the possible fragile nature of the pact.Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, accused the US of violating the ceasefire agreement.The White House said Iran assured that ships are transiting the Strait of Hormuz, despite reports that Tehran had again closed the waterway because of Israel's attacks on Lebanon, CNN reported.Separately, Kuwait and the United Arab Emirates reportedly said they were targeted with Iranian drones and missiles."The headlines may calm down first, but the real reset depends on what happens in the days ahead," Charu Chanana, chief investment strategist at Saxo Bank, said in a report.US Treasury yields were down, with the 10-year rate falling 5 basis points at 4.3% and the two-year rate dropping 4.1 basis points at 3.79%.Minutes from the Federal Reserve's March meeting showed that participants emphasized the need for the central bank to be "nimble" in adjusting monetary policy amid heightened macro risks."The vast majority of participants judged that upside risks to inflation and downside risks to employment were elevated, and the majority of participants noted that these risks had increased with developments in the Middle East," the minutes showed.Most policymakers were concerned that a prolonged war could soften labor market conditions, possibly warranting policy easing, according to the minutes. However, persistent inflation amid higher oil prices could call for rate increases."The conflicting viewpoints point to a period of policy stability," Sal Guatieri, senior economist at BMO Capital Markets, said in a report. "The Fed is on hold until it has greater clarity on the direction of the Iran war and its effects on the economy and inflation."Airline and cruise operator stocks jumped, with Carnival (CCL) up 11%, among the top gainers on the S&P 500. United Airlines (UAL) surged 7.8%. Southwest Airlines (LUV) and American Airlines (AAL) were also up, along with Norwegian Cruise Line (NCLH) and Royal Caribbean Cruises (RCL).In company news, Meta Platforms (META) shares jumped 6.5% after the tech giant unveiled its Muse Spark artificial intelligence model.Delta Air Lines (DAL) logged better-than-expected first-quarter results amid robust corporate and leisure demand. The air carrier's shares rose 3.8%.Exxon Mobil (XOM) expects its global oil-equivalent output to take a hit in the first quarter due to production disruptions caused by the Middle East conflict. Shares of the US oil giant fell 4.7%, while smaller rival Chevron (CVX) slumped 4.3%, the steepest decline on the Dow.Gold was last up 1.4% at $4,750.70 per troy ounce, while silver gained 3.4% to $74.44 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAL$CCL$CVX$DAL$LUV$META$NCLH$RCL$UAL$XOM

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