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US Markets

Nasdaq Extends Winning Streak to 10 Days Amid US-Iran Deal Hopes

The Nasdaq Composite extended its winning streak to a tenth consecutive session on Tuesday as oil prices tumbled amid optimism that the US and Iran could revive peace talks.The Nasdaq climbed 2% to 23,639.1. The S&P 500 rose 1.2% to 6,967.4, while the Dow Jones Industrial Average added 0.7% to 48,536.Most sectors were in the green, led by communication services' 3.2% jump, while energy saw the steepest decline.West Texas Intermediate crude oil was last down 7% at $92.12 per barrel, while Brent lost 4.2% to $95.24.The US and Iran could resume talks later this week, possibly in Pakistan, news outlets reported, citing US President Donald Trump.Trump continues to be open to resuming in-person negotiations soon if he believes Iran is ready to submit to his demands, CNN reported, citing people familiar with the matter.Over the weekend, US-Iran peace negotiations in Pakistan ended without a deal. Following that setback, the US navy started a blockade of Iranian ports in the crucial Strait of Hormuz. A two-week ceasefire between the US and Iran, however, still holds.The International Energy Agency on Tuesday forecast global oil demand to turn negative this year due to the Middle East conflict, penciling in the sharpest consumption decline in the second quarter since the COVID-19 pandemic.The International Monetary Fund lowered its global economic growth expectations for 2026 due to the Middle East conflict, cautioning that a prolonged war could drive a further slowdown.US Treasury yields were lower, with the 10-year rate last down four basis points at 4.25% and the two-year rate dropping three basis points to 3.75%.In company news, Amazon.com (AMZN) agreed to buy mobile satellite services operator Globalstar (GSAT) as the e-commerce giant aims to add direct-to-device services to its Leo satellite network. Amazon shares jumped 3.8%, the top gainer on the Dow, while Globalstar jumped 9.6%.Johnson & Johnson (JNJ) lifted its full-year outlook as the healthcare products conglomerate's first-quarter results surpassed Wall Street's expectations. The company's shares rose 0.9%.JPMorgan Chase (JPM) and Citigroup's (C) first-quarter results topped the Street's expectations, while Wells Fargo's (WFC) revenue missed market views.Wells Fargo shares tumbled 5.7%, among the steepest declines on the S&P 500. JPMorgan shares fell 0.8%, while Citigroup rose 2.7%."The earnings season arrives against a backdrop where market attention has drifted away from fundamentals like earnings growth and towards geopolitical risks," Wells Fargo Investment Institute said in a report e-mailed to. "Recent volatility reflects a repricing driven by risk sentiment and geopolitics, not a deterioration in fundamentals."In economic news, US producer prices growth steadied in March as wholesale costs of energy surged amid volatility stemming from the Iran war."A sizable increase in the PPI underscores the material effects of higher energy prices and the broader inflationary impact of a global price shock on the domestic economy," Stifel said in a note. "Such pressures are furthermore likely to intensify in the coming months as upstream costs work their way down the production pipeline."Gold was last up 2.1% at $4,869.10 per troy ounce, while silver advanced 5.3% to $79.68 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMZN$C$GSAT$JNJ$JPM$WFC
Sectors

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were higher in late Tuesday afternoon trading with the NYSE Financial Index rising 0.5%, and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.4%.The Philadelphia Housing Index rose 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) climbed 1%.Bitcoin (BTC-USD) shed 0.3% to $74,210, and the yield for 10-year US Treasuries fell 4.1 basis points to 4.256%.In economic news, the US Producer Price Index rose by 0.5% in March, the same as in February and below the 1.1% gain expected in a Bloomberg-compiled survey. Energy prices jumped by 8.5% in the month after a 2.1% gain in the previous month due to a 15.7% surge in gasoline prices. Excluding food and energy, core PPI edged up 0.1%, below the 0.4% gain forecast and slower than the 0.3% gain reported in February.The International Monetary Fund now expects 2.3% US economic growth in 2026, a downward adjustment from its 2.4% estimate set out in January, and compares with the 2.1% growth reported in 2025. The IMF also revised down its 2026 global growth outlook in its World Economic Outlook update released Tuesday.In corporate news, Carlyle (CG) has attracted $1.5 billion in the first round of fundraising for its Carlyle Asset-Backed Income Fund from pension funds, sovereign wealth funds, and other institutional investors, Bloomberg reported. Carlyle shares gained 4.1%.Citigroup's (C) Q1 results came in stronger than Wall Street's expectations amid double-digit gains in fixed income and investment banking revenue. The stock rose 2.2%.Wells Fargo's (WFC) Q1 revenue missed market expectations as Chief Executive Charlie Scharf said there will likely be a lag in the pass-through of higher oil prices. Its shares dropped 5.6%.JPMorgan Chase (JPM) reported better-than-expected Q1 results on Tuesday, while Chief Executive Jamie Dimon said the US economy remained resilient but warned of an "increasingly complex set of risks," including wars and energy price volatility. JPMorgan shares decreased 0.9%.KKR (KKR) has limited redemptions to 5% of its asset-based finance fund K-ABF after receiving withdrawal requests of about 7.2%, Bloomberg reported. KKR shares were up 2.3%.

$C$CG$JPM$KKR$WFC
Asia Markets

US Equity Indexes Soar, Crude Oil Sinks Amid Hopes Iran Peace Talks May Resume This Week

US equity indexes traded higher ahead of Tuesday's close as optimism over the resumption of Iran peace talks sent crude oil futures sharply lower, and after mega-cap banks reported quarterly earnings.The Nasdaq Composite jumped 1.7% to 23,578.7, the S&P 500 climbed 1% to 6,952.9, and the Dow Jones Industrial Average advanced 0.5% to 48,456.4.Talks to end the Iran war could resume in Pakistan over the next two days, US President Donald Trump said on Tuesday, after the collapse of weekend negotiations prompted Washington to impose a blockade on Iranian ports, Reuters reported.Gulf, Pakistani, and Iranian officials said the US and Iran's negotiating teams could return to Pakistan later this week, according to the news report. Still, one senior Iranian source said no date had been set, the report added.West Texas Intermediate crude oil futures sank 7.4% to $91.65, and Brent crude futures slumped 4.4% to $94.92.Most US Treasury yields fell, with the 10-year down 2.3 basis points to 4.27% and the two-year retreating 1.5 basis points to 3.78%.In company news, Citigroup (C) and BlackRock (BLK) reported Q1 earnings and revenue growth above market expectations. JPMorgan Chase (JPM) also delivered a better-than-expected quarter.

Dow JonesNasdaq CompositeS&P 500$BLK$C$JPM
Wire

Equities Rise Intraday, Oil Falls Amid US-Iran Talk Optimism

US benchmark equity indexes rose intraday, while oil prices fell amid optimism that Washington and Iran could revive peace talks.The Nasdaq Composite was up 1.8% at 23,610.3 after midday Tuesday, while the S&P 500 rose 1.1% to 6,962.8. The Dow Jones Industrial Average added 0.6% to 48,572.3. Among sectors, communication services paced the gainers with a 3.1% jump, while energy saw the steepest decline.West Texas Intermediate crude oil tumbled 7.2% to $91.71 per barrel, while Brent lost 4.4% to $95.03.The US and Iran could resume talks later this week, possibly in Pakistan, news outlets reported, citing US President Donald Trump.Trump continues to be open to resuming in-person negotiations soon if he believes Iran is ready to submit to his demands, CNN reported, citing people familiar with the matter.Over the weekend, US-Iran peace negotiations in Pakistan ended without a deal. Following that setback, the US navy started a blockade of Iranian ports in the crucial Strait of Hormuz. A two-week ceasefire between the US and Iran, however, still holds.The International Energy Agency on Tuesday forecast global oil demand to turn negative this year due to the Middle East conflict, penciling in the sharpest consumption decline in the second quarter since the COVID-19 pandemic.US Treasury yields were lower intraday, with the 10-year rate down 4.3 basis points at 4.25% and the two-year rate dropping three basis points to 3.75%.In company news, Amazon.com (AMZN) agreed to buy mobile satellite services operator Globalstar (GSAT) as the e-commerce giant aims to add direct-to-device services to its Leo satellite network. Amazon shares were up 5.1% intraday, the top gainer on the Dow, while Globalstar jumped 10%.Johnson & Johnson (JNJ) lifted its full-year outlook as the healthcare products conglomerate's first-quarter results surpassed Wall Street's expectations. The company's shares were up 1.4%, among the best performers on the Dow.JPMorgan Chase (JPM) and Citigroup's (C) first-quarter results topped the Street's expectations, while Wells Fargo's (WFC) revenue missed market views.Wells Fargo shares were down 4.6% intraday, among the steepest declines on the S&P 500. JPMorgan shares were down 0.7%, while Citigroup rose 3.4%.In economic news, US producer prices growth steadied in March as wholesale costs of energy surged amid volatility stemming from the Iran war."A sizable increase in the PPI underscores the material effects of higher energy prices and the broader inflationary impact of a global price shock on the domestic economy," Stifel said in a note. "Such pressures are furthermore likely to intensify in the coming months as upstream costs work their way down the production pipeline."Gold was up 2% at $4,863.10 per troy ounce, while silver advanced 5% to $79.42 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMZN$C$GSAT$JNJ$JPM$WFC
Sectors

Sector Update: Financial Stocks Advance Tuesday Afternoon

Financial stocks were higher in Tuesday afternoon trading with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.2%.The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) climbed 0.5%.Bitcoin (BTC-USD) increased 0.4% to $74,730, and the yield for 10-year US Treasuries fell 2.3 basis points to 4.27%.In economic news, the US Producer Price Index rose by 0.5% in March, the same as in February and below the 1.1% gain expected in a Bloomberg-compiled survey. Energy prices jumped by 8.5% in the month after a 2.1% gain in the previous month due to a 15.7% surge in gasoline prices. Excluding food and energy, core PPI edged up 0.1%, below the 0.4% gain forecast and slower than the 0.3% gain reported in February.The International Monetary Fund now expects 2.3% US economic growth in 2026, a downward adjustment from its 2.4% estimate set out in January and compared with the 2.1% growth reported in 2025. The IMF also revised down its 2026 global growth outlook in its World Economic Outlook update released Tuesday.In corporate news, Citigroup's (C) Q1 results came in stronger than Wall Street's expectations amid double-digit gains in fixed income and investment banking revenue. The stock rose 3.5%.Wells Fargo's (WFC) Q1 revenue missed market expectations as Chief Executive Charlie Scharf said there will likely be a lag in the pass-through of higher oil prices. Its shares dropped 4.3%.JPMorgan Chase (JPM) reported better-than-expected Q1 results on Tuesday, while Chief Executive Jamie Dimon said the US economy remained resilient but warned of an "increasingly complex set of risks," including wars and energy price volatility. JPMorgan shares decreased 0.5%.

$C$JPM$WFC
Sectors

Sector Update: Financial

Financial stocks advanced in Tuesday afternoon trading with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 0.2%.The Philadelphia Housing Index rose 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) climbed 0.5%.Bitcoin (BTC-USD) increased 0.4% to $74,730, and the yield for 10-year US Treasuries fell 2.3 basis points to 4.27%.In corporate news, Citigroup's (C) Q1 results came in stronger than Wall Street's expectations amid double-digit gains in fixed income and investment banking revenue. The stock rose 3.1%.

$C
Asia Markets

US Equity Indexes Surge as Trump Hints at Iran Peace Talks-Linked Announcement in 2 Days

US equity indexes advanced in midday trading on Tuesday as optimism over the resumption of Iran peace talks sent crude oil futures sharply lower, and after mega-cap banks reported quarterly earnings.The Nasdaq Composite jumped 1.7% to 23,578.7, the S&P 500 climbed 1% to 6,952.9, and the Dow Jones Industrial Average advanced 0.5% to 48,456.4. S&P 500 has reportedly clawed back all of its post-Iran-war declines and, according to CNBC-compiled data, the index is trading close to an all-time high of about 7,002.3.Consumer discretionary, communication services, and technology led the gainers. Energy was by far the worst performer among a trio of decliners.President Donald Trump remains open to resuming in-person negotiations soon if he believes Iran is ready to submit to his demands, CNN reported, citing people familiar with the matter. He said that "something could be happening" over the next two days in Pakistan, where previous talks faltered.In Islamabad on Saturday, American negotiators proposed a 20-year pause on Iran's enrichment of uranium, a source familiar with the talks told CNN. Iran responded with a proposal for a five-year suspension, which the US has rejected, a US official was cited as saying.West Texas Intermediate crude oil futures sank 6.7% to $92.34, and Brent crude futures slumped 4.4% to $94.96.In precious metals, gold futures jumped 1.5% to $4,838.50 and silver futures soared 5.2% to $79.59.The CBOE Volatility Index dropped 3.6% to 18.44.In company news, Citigroup (C) and BlackRock (BLK) reported Q1 earnings and revenue growth above market expectations. JPMorgan Chase (JPM) also delivered a better-than-expected quarter.United Airlines (UAL) Chief Executive Scott Kirby proposed a potential combination with American Airlines (AAL) during a late February meeting with President Donald Trump, Reuters reported Monday, citing two unnamed sources familiar with the matter.In economic news, the US Producer Price Index rose by 0.5% in March, the same as in February and below the 1.1% gain expected in a Bloomberg-compiled survey. Energy prices jumped by 8.5% in the month after a 2.1% gain in the previous month due to a 15.7% surge in gasoline prices. Excluding food and energy, core PPI edged up 0.1%, below the 0.4% gain forecast and slower than the 0.3% gain reported in February.Most US Treasury yields fell, with the 10-year down 2.3 basis points to 4.27% and the two-year retreating 1.5 basis points to 3.78%.The International Monetary Fund now expects 2.3% US economic growth in 2026, a downward adjustment from its 2.4% estimate set out in January and compared with the 2.1% growth reported in 2025. The IMF also revised down its 2026 global growth outlook in its World Economic Outlook update released Tuesday.

Dow JonesNasdaq CompositeS&P 500$AAL$BLK$C$JPM$UAL
US Markets

Citigroup Beats First-Quarter Views as Revenue Surges

Citigroup's (C) first-quarter results came in stronger than Wall Street's expectations amid double-digit gains in fixed income and investment banking revenue.Earnings rose to $3.06 a share for the March quarter from $1.96 a year earlier, exceeding the FactSet-polled consensus of $2.63. Net revenue grew 14% to $24.63 billion, ahead of the Street's $23.53 billion view."We're off to an exceptionally strong start in 2026," Chief Executive Jane Fraser said in a statement Tuesday.Citigroup shares were up 3% in afternoon trade, bringing its year-to-date gains to 11%.Markets revenue surged 19% to $7.25 billion as fixed income and equity markets jumped. Revenue within the services business climbed 17% to $6.10 billion amid double-digit increases in treasury and trade solutions and in securities services.Banking revenue jumped 15% to $1.77 billion, reflecting double-digit growth in investment banking, which offset a decline in corporate lending. Wealth revenue rose 11% to $3.07 billion, while US consumer cards grew 4% to $4.76 billion.JPMorgan Chase (JPM) reported better-than-expected first-quarter results Tuesday, while Wells Fargo's (WFC) revenue missed market views. On Monday, Goldman Sachs (GS) posted first-quarter results above market estimates.For 2026, Citigroup said it continues to expect net interest income excluding markets to grow by 5% to 6% year over year, driven by sustained fee momentum in services, banking and wealth.The company remains "very much on track" to deliver its target of 10% to 11% return on tangible common equity this year, Fraser said."We've entered into the final phase of our divestitures and 90% of our transformation programs are now at or near our target state," she said.Price: $129.79, Change: $+3.51, Percent Change: +2.78%

$C$GS$JPM$WFC
Research

Research Alert: CFRA Reiterates Buy Opinion On Shares Of Citigroup Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target price by $10 to $150 applying a forward P/E of 13.2x that is near the midpoint of the historical averages for three years at 15.1x and five years at 11.9x on forward normalized earnings. We are confident C is well positioned to accelerate growth and performance. Looking ahead for 2026, we believe there is ample market opportunity to exceed consensus expectations on revenue growth and wider margins for all businesses. We are increasing our 2026 EPS estimate by $1.55 to $11.30 and 2027's by $0.80 to $12.50 on projected revenue of $93.5B (prior $88.3B) and $98.5B ($92.0B). We moved to a new valuation level on price to NTBV at a premium of 1.5x, which is still below direct peers trading anywhere from 1.7x to 2.5x. We see upside to our target based on C's leading position in treasury securities services and its position as one of the top-five players in investment banking. Valuation risk may rest with a change in macroeconomic conditions outside the U.S., where C has more exposure than peers.

$C
Japan

US Equity Indexes Rise Amid Speculation Iran Peace Talks May Resume; Crude Oil Slumps

US equity indexes rose in midday trading on Tuesday as optimism over a peace deal with Iran hit crude oil futures, and after mega-cap banks reported quarterly earnings.The Nasdaq Composite jumped 1.4% to 23,515.6, the S&P 500 climbed 0.9% to 6,948.1, and the Dow Jones Industrial Average advanced 0.6% to 48,523.3.President Donald Trump remains open to resuming in-person negotiations soon if he believes Iran is ready to submit to his demands, CNN reported, citing people familiar with the matter. Trump officials are internally discussing details for a potential second, in-person meeting with Iranian officials before a ceasefire expires on April 21, a source familiar with the discussions told CNN.In Islamabad on Saturday, American negotiators proposed a 20-year pause on Iran's enrichment of uranium, a source familiar with the talks told CNN. Iran responded with a proposal for a five-year suspension, which the US has rejected, CNN reported, citing a US official.West Texas Intermediate crude oil futures slumped 5.9% to $93.21, and Brent crude futures dropped 3.4% to $95.98.Most US Treasury yields fell, with the 10-year down 2.5 basis points to 4.27% and the two-year retreating 1.3 basis points to 3.77%.In company news, Citigroup (C) and BlackRock (BLK) reported Q1 earnings and revenue growth above market expectations. JPMorgan Chase (JPM) also delivered a better-than-expected quarter.

Dow JonesNasdaq CompositeS&P 500$BLK$C$JPM
Wire

Top Midday Stories: Wells Fargo Shares Fall After Q1 Revenue Miss; Amazon to Acquire Globalstar for $90 a Share

All three major US stock indexes were up in late-morning trading Tuesday, as many of the big banks revealed their earnings results.In company news, Wells Fargo (WFC) reported Q1 earnings Tuesday of $1.60 per diluted share, up from $1.39 a year earlier and above the FactSet consensus of $1.58. First-quarter revenue was $21.45 billion, up from $20.15 billion a year ago but below the FactSet consensus of $21.79 billion. Wells Fargo shares were down 5.2% around midday.Amazon (AMZN) said Tuesday it has agreed to acquire Globalstar (GSAT) in a deal valuing the company at $90 per share. The acquisition, which is expected to close in 2027, will strengthen Amazon's low-Earth orbit network, Amazon Leo, enabling direct-to-device services that will expand cellular coverage, the company said. Amazon shares were up 3.3%, while Globalstar shares were up 10.5%.JPMorgan Chase (JPM) reported Q1 earnings Tuesday of $5.94 per diluted share, up from $5.07 a year earlier and above the FactSet consensus analyst estimate of $5.45. First-quarter net revenue was $49.84 billion, up from $45.31 billion a year ago and above the FactSet consensus of $49.13 billion. JPMorgan shares were down 0.5%.Citigroup (C) reported Q1 net income Tuesday of $3.06 per diluted share, up from $1.96 a year earlier and above the FactSet consensus of $2.63. First-quarter revenue was $24.63 billion, up from $21.60 billion a year ago and above the FactSet consensus of $23.53 billion. Citigroup shares were up 2.5%.Lucid (LCID) said Tuesday it will receive new investments from an affiliate of Saudi Arabia's Public Investment Fund and Uber Technologies (UBER). Shares of Lucid were down 4.4%, while Uber shares were up 0.3%.Price: $312.52, Change: $-1.16, Percent Change: -0.37%

$AMZN$C$GSAT$JPM$LCID$UBER$WFC
Sectors

Sector Update: Financial Stocks Decline Premarket Tuesday

Financial stocks were declining premarket Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) down 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.1% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.2%.Wells Fargo (WFC) shares were down more than 3% after the company reported higher Q1 earnings and revenue, with revenue missing analysts' expectations.Citigroup (C) stock was up more than 1% after the company posted higher Q1 net income and revenue.BlackRock (BLK) shares were up more than 2% after the company reported higher Q1 adjusted earnings and revenue.

$BLK$C$FAS$FAZ$WFC$XLF
Research

Research Alert: Citigroup Inc. Outpaces Q1 2026 Earnings Expectation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Citigroup (C) reported a strong Q1 2026 earnings beat with adjusted EPS of $3.06 versus consensus estimate of $2.63 per share, or $1.96 a year ago. Total revenue of $24.6B exceeded consensus expectations, due to robust 14% Y/Y growth across all business segments. Net interest income increased 12% Y/Y, with notable gains in U.S. Personal Banking, Markets, Wealth, and Services segments, partly offset by declines in All Other and Banking segments. Total non-interest revenue surged 39% Y/Y, supported by strong gains across all businesses including Services, Markets, Banking, Wealth, and U.S. Consumer Cards. The broad-based revenue growth across multiple segments demonstrates the bank's diversified business model strength and operational effectiveness. Strong performance in both interest and non-interest income streams positions C well for continued positive momentum. The significant outperformance versus consensus expectations across key financial metrics reflects successful execution across the global franchise.

$C
US Markets

Stocks Rise Pre-Bell Amid Hopes of Renewed US-Iran Peace Talks; Big Bank Earnings, PPI Data on Deck

US equity futures were trending higher on Tuesday amid media reports that the US and Iran may revive their peace talks, while investors await the latest financial results of some of Wall Street's largest banks and data on wholesale prices.The S&P 500 rose 0.2%, the Dow Jones Industrial Average edged up 0.1% and the Nasdaq added 0.4% in premarket activity. The indexes finished the previous trading session higher, with the Nasdaq recording gains for the ninth consecutive day.The US and Iran are considering holding another round of negotiations before their current two-week ceasefire expires next week, Bloomberg News reported Tuesday, citing people familiar with the matter.President Donald Trump reportedly said Monday that "the right people" have reached out to Washington "and they want to work a deal." Delegations from the US and Iran were unable to reach a deal during negotiations in Pakistan over the weekend.In an interview with Fox News, Vice President JD Vance said it was up to Iran to make the next move on peace talks with the US, according to CNBC. "Whether we have further conversations, whether we ultimately get to a deal, I really think the ball is in the Iranian court, because we put a lot on the table," Vance reportedly said.The US navy on Monday started a blockade of Iranian ports in the crucial Strait of Hormuz.West Texas Intermediate crude oil declined 2.6% to $96.53 a barrel before the opening bell, while Brent decreased 1.2% to $91.88.The International Energy Agency said Tuesday it expects oil demand to fall by 80,000 barrels per day this year as the Middle East war "upends" its global outlook. "Demand destruction will spread as scarcity and higher prices persist," the IEA said.On Monday, the Organization of the Petroleum Exporting Countries lowered its second-quarter oil demand forecast due to the Middle East conflict, but maintained its full-year estimates amid expectations for a rebound in the second half.JPMorgan Chase (JPM), Wells Fargo (WFC) and Citigroup (C) are some of the banking giants scheduled to report their latest quarterly earnings before the bell, along with Johnson & Johnson (JNJ), BlackRock (BLK) and Albertsons (ACI).Goldman Sachs (GS) posted first-quarter results above market estimates on Monday, while Chief Executive David Solomon said a protracted Middle East conflict could pose upside risks to inflation. Bank of America (BAC) and Morgan Stanley (MS) post their results on Wednesday.Last month's producer price index, a measure of wholesale prices, is slated to be released at 8:30 am ET. Last week, government data showed that consumer inflation accelerated to its highest monthly reading in nearly four years in March as the Middle East conflict sent energy prices sharply higher.Treasury yields were down in premarket action, with the two-year rate retreating 1.9 basis points to 3.76% and the 10-year rate off 1.6 basis points to 4.28%.Federal Reserve Governor Michael Barr is set to speak at 12:45 pm, while Chicago Fed President Austan Goolsbee speaks earlier at 12:15 pm.Shares of Oracle (ORCL) added 4.2% pre-bell after closing the previous trading session up 13% as the company said it introduced artificial intelligence-focused updates to its utilities software suite. Avanos Medical (AVNS) surged 68% after the firm agreed to be acquired by American Industrial Partners affiliates in a deal worth $1.27 billion.Gold inclined 0.8% to $4,804 per troy ounce pre-bell, while bitcoin advanced 2% to $74,609.

Dow JonesNasdaq CompositeS&P 500$ACI$AVNS$BAC$BLK$C$GS$JNJ$JPM$MS$ORCL$WFC
US Markets

Nasdaq Extends Rally to 9th Day as Tech Stocks Jump

The Nasdaq Composite advanced for the ninth straight session on Monday as US equity markets benefited from a jump in technology stocks.The Nasdaq climbed 1.2% to 23,183.7, while the S&P 500 added 1% to 6,886.2. The Dow Jones Industrial Average rose 0.6% to 48,218.3. Barring utilities and consumer staples, all sectors ended in the green, led by tech and financials.Oracle (ORCL) shares surged nearly 13%, the top gainer on the S&P 500. The company said it introduced artificial intelligence-focused updates to its utilities software suite at its customer edge summit, targeting improvements in billing, grid operations, and asset management.ServiceNow (NOW), Dell Technologies (DELL), Salesforce (CRM) and Microsoft (MSFT) were among tech stocks that registered gains.US earnings growth expectations appear to have shrugged off uncertainty around the Iran war, with markets betting on stronger corporate results this year than those projected before the war began, BlackRock Investment Institute said in a note on Monday.BlackRock upgraded its rating on US stocks to overweight from neutral, saying the Middle East conflict will likely drive limited economic damage.Oil prices, which jumped above $100 per barrel earlier on Monday amid a US blockade of maritime traffic around Iran's ports, pared gains, with West Texas Intermediate crude oil last up 1.3% at $97.83. Brent advanced 3.1% to $98.18.The blockade started at 10 am ET Monday. The development came after the US and Iran failed to reach a deal during negotiations in Pakistan over the weekend, fueling concerns over an already fragile ceasefire between Washington and Tehran.US President Donald Trump said Iran called this morning and that "they'd like to work a deal," according to a Reuters report. Despite the failed peace talks, a two-week ceasefire announced last week still holds.Trump's remarks come as Iran has vowed to retaliate following the US blockade, CNN reported. The Iran-controlled strait has been effectively shut since the war began at the end of February.Trump is mulling over limited strikes against Iran following the failed negotiations, The Wall Street Journal reported, citing people familiar with the situation."As the conflict with Iran enters its seventh week, persistent concern about the time it will take to arrive at an effective resolution to the conflict will, however, likely remain for now as a negative overhang for market participants to navigate," said John Stoltzfus, chief investment strategist at Oppenheimer Asset Management.Meanwhile, the Organization of the Petroleum Exporting Countries lowered its second-quarter oil demand forecast due to the Middle East conflict, but maintained its full-year estimates amid expectations for a rebound in the second half.US Treasury yields were lower, with the 10-year rate last down 4.7 basis points at 4.29% and the two-year rate dropping 2.7 basis points to 3.78%.In company news, Goldman Sachs (GS) on Monday posted first-quarter results above market estimates, while Chief Executive David Solomon said a protracted Middle East conflict could pose upside risks to inflation. The lender's shares fell 1.9%, the worst performer on the Dow.JPMorgan Chase (JPM), Wells Fargo (WFC), and Citigroup (C) are scheduled to release their quarterly results on Tuesday, while Bank of America (BAC) and Morgan Stanley (MS) will announce their results on Wednesday. Outside the banking sector, Johnson & Johnson (JNJ), Netflix (NFLX) and PepsiCo (PEP) are set to release their results this week.In economic news, US existing home sales decreased in March as softening job growth and weaker consumer confidence continued to deter potential buyers, data from the National Association of Realtors showed.Gold was last down 0.4% at $4,766.30 per troy ounce, while silver dropped 1.1% to $75.67 per ounce.

Dow JonesNasdaq CompositeS&P 500$BAC$C$CRM$DELL$GS$JNJ$JPM$MS$MSFT$NFLX$NOW$ORCL$PEP$WFC
International

US Equity Indexes Rise Amid Gains in Tech, Financials; Crude Oil Pares Gains on Hopes for Iran Deal

US equity indexes rose, with financials and technology topping sector charts, and crude oil futures paring gains after President Donald Trump attempted to cool geopolitical tensions.The Nasdaq Composite jumped 1.2% to 23,183.74, the S&P 500 climbed 1% to 6,886.24, and the Dow Jones Industrial Average advanced 0.6% to 48,218.25. Defensive sectors -- consumer staples and utilities -- were the lone decliners.All three indexes clawed back intraday declines after President Trump said that "we've been called by the other side," referring to Iran. The US-Tehran talks in Pakistan's capital, Islamabad, over the weekend ended without a lasting peace pact, as uranium enrichment and the Strait of Hormuz remained the main sticking points."They'd like to make a deal very badly," Trump was cited as saying in media reports.West Texas Intermediate crude oil futures rose 1.6% to $98.14, and Brent crude futures climbed 3.2% to $98.27, after surging more than 7.5% each intraday.The CBOE Volatility Index slipped 0.6% to 19.12, after touching an intraday high of 21.58.US Treasury yields mostly fell, with the 10-year yield down 2.2 basis points to 4.30%, after rates rose across most of the yield curve earlier in the session.Trump's comments come as the US military blockade on all traffic entering and leaving Iranian ports came into effect on Monday, CNN reported.More than 15 US warships are in place to support the operation, The Wall Street Journal reported, citing a senior official."If any of these ships [that the president refers to as Iran's 'fast attack ships'] come anywhere close to our BLOCKADE, they will be immediately ELIMINATED," Trump said on his Truth Social post. Iran said no port in the Persian Gulf or the Sea of Oman would be safe if its ports are threatened, The Wall Street Journal reported Monday.A US blockade might stop Iran's flow of oil revenue without destroying or capturing Iran's Kharg Island oil loading point, and so "potentially avoid escalatory Iranian attacks on its Gulf neighbors," according to a note from the Wells Fargo Investment Institute.Meanwhile, Goldman Sachs (GS), which reported higher Q1 earnings and net revenue pre-bell, is launching a new three-tranche offering in the US investment-grade debt market, with bond maturities spanning four to eight years, Bloomberg said Monday, citing a person with direct knowledge of the matter.The Q1 earnings season has begun in earnest with the release of Goldman Sachs' quarterly results. Mega-cap banks, including JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), and Morgan Stanley (MS), will report this week.Further in company news, Oracle (ORCL) said Monday it introduced AI-focused updates to its utilities software suite at its customer edge summit, targeting improvements in billing, grid operations, and asset management. Shares of the technology giant were up 13%, the top gainer on the S&P 500.Microsoft (MSFT), Salesforce (CRM), and ServiceNow's (NOW) recent sell-offs amid the broader software disposal are disconnected from the artificial intelligence opportunities over the coming years, Wedbush said Monday. Shares of Salesforce and Microsoft were up 4.8% and 3.6%, respectively, the Dow's top gainers.

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US Markets

Stock Futures Down, Oil Rises as US Plans Blockade of Iranian Ports in Strait of Hormuz After Talks Fail

The benchmark US stock measures were pointing lower before the opening bell Monday, while oil prices rose as the US navy plans to begin a blockade of Iranian ports in the crucial Strait of Hormuz after Washington and Tehran failed to reach a conclusive agreement to end their war.The S&P 500 and the Nasdaq declined 0.6% each in premarket activity, while the Dow Jones Industrial Average was off 0.5%. The S&P 500 and the Dow finished Friday's trading session in the red, while the Nasdaq posted its eighth consecutive day of gains.The US Central Command announced Sunday that its forces will begin implementing a blockade of all maritime traffic entering and exiting Iranian ports on Monday at 10 am ET."The blockade will be enforced impartially against vessels of all nations entering or departing Iranian ports and coastal areas, including all Iranian ports on the Arabian Gulf and Gulf of Oman," according to a statement. "CENTCOM forces will not impede freedom of navigation for vessels transiting the Strait of Hormuz to and from non-Iranian ports."Earlier on Sunday, President Donald Trump said in a social media post that the US navy will block "any and all ships trying to enter, or leave, the Strait of Hormuz," the world's most important chokepoint for crude flows."I have also instructed our navy to seek and interdict every vessel in international waters that has paid a toll to Iran," according to Trump. "Other countries will be involved with this blockade. Iran will not be allowed to profit off this illegal act of extortion."Trump's statement came after delegations from the US and Iran were unable to reach a deal to end their war during negotiations in Pakistan over the weekend. US Vice President JD Vance, who led the US delegation, said the US didn't receive a firm commitment from Iran to stop its pursuit of nuclear weapons, according to multiple media outlets.Iran's parliamentary speaker Mohammad Bagher Ghalibaf said in a post on X that the US team "failed to gain the trust of the Iranian delegation in this round of negotiations."West Texas Intermediate crude oil jumped 7.8% to $104.05 a barrel before the open, while Brent advanced 7.1% to $101.93.Meanwhile, Trump on Sunday reportedly threatened to implement a 50% tariff on China, following speculation that Beijing is preparing to deliver a shipment of new air defense systems to Iran, according to CNBC. "If we catch them doing that, they get a 50% tariff, which is a staggering - that's a staggering amount," the US leader said.Traders await the latest financial results of Wall Street's biggest banks this week, beginning with Goldman Sachs (GS) on Monday. JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Morgan Stanley (MS) and Citigroup (C) are all due to post their quarterly earnings later in the week, along with major corporations, including Johnson & Johnson (JNJ), Netflix (NFLX) and PepsiCo (PEP).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 Friday. 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, according to a survey by the University of Michigan last week.Treasury yields were trending upwards in premarket action, with the two-year rate rising 1.5 basis points to 3.82% and the 10-year rate inclining 1.6 basis points to 4.33%.Monday's thin economic calendar has the existing home sales report for March at 10 am. Federal Reserve Governor Stephen Miran is scheduled to speak at 6:20 pm.Gold dropped 0.9% to $4,744 per troy ounce pre-bell, while bitcoin decreased 0.5% to $70,791.

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Asia Markets

US Equity Investors to Train Focus on Quarterly Earnings, Escalation of Iran War This Week

US equity investors will focus on Q1 earnings and developments in the Iran war following President Donald Trump's announcement of a blockade of the Strait of Hormuz after Iran peace talks in Pakistan ended with no agreement.* Q1 earnings season will begin this week in right earnest with the release of quarterly results from mega-cap banks, including JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), Morgan Stanley (MS), and Goldman Sachs (GS).* Trump and his advisers are looking at resuming limited military strikes in Iran in addition to the blockade as a way to break a stalemate in peace talks, The Wall Street Journal reported Monday, citing officials and people familiar with the situation.* The announcement of the blockade could draw American forces into a prolonged struggle to control the strategic chokepoint while compounding the global economic damage caused by the conflict, a separate report from the WSJ said.* West Texas Intermediate crude oil futures surged 8% to $104.59, and Brent crude futures soared 7.8% to $102.95 early Monday. US Treasury yields also rose, with the 10-year up 1.8 basis points to 4.34% and the two-year climbed 2.1 basis points to 3.82%. The ICE US Dollar index advanced 0.3% to 98.99, reflecting the greenback's strength against the world's major currencies.* Iran said no port in the Persian Gulf or the Sea of Oman would be safe if its ports are threatened, after Trump confirmed that the US blockade on ships entering or exiting Iranian ports would take effect at 10 a.m. ET Monday.* Macroeconomic data due this week includes producer price inflation, existing home sales, ADP employment change, and initial jobless claims.* Federal Reserve Governors Christopher Waller and Michelle W. Bowman, as well as New York Fed President John Williams, are among a plethora of central bank speakers due to share their views this week.

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